SEACOR Marine and CMB Announce Transaction for Windfarm Support Business einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
SEACOR Marine Holdings Inc.: SEACOR Marine and CMB Announce Transaction for Windfarm Support Business
HOUSTON and ANTWERP, Belgium, Dec. 18, 2020 (GLOBE NEWSWIRE) SEACOR Marine Holdings Inc. (NYSE:SMHI) (the Company or SEACOR Marine ), a leading provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide, and Compagnie Maritime Belge ( CMB ), a diversified shipping and logistics group, today announced that a wholly-owned subsidiary of the Company entered into a binding definitive sale and purchase agreement ( SPA ) to sell Windcat Workboats Holdings Limited ( Windcat ) and its crew transfer vessel ( CTV ) business to CMB. As consideration for the sale, at the closing of the transaction, CMB will pay SEACOR Marine £32.8 million in cash, and assume all of the approximately £20.4 million of debt outstanding under Windcat s existing revolving credit facility (equivalent to approximately US$44.6 million and US$27.8 mi
SEACOR Marine Sells Windcat Workboats to CMB
Maritime Activity Reports, Inc.
A Windcat Workboats vessel - Credit: Windcat Workboats
New York-listed offshore vessel operator SEACOR Marine has agreed to sell its Windcat Workboats and its crew transfer vessel (“CTV”) business to the Belgian shipping and logistics group Compagnie Maritime Belge (CMB).
Windcat Workboats owns and operates a fleet of 46 offshore crew transfer vessels, mainly in the European offshore wind sector, but also in the oil and gas industry and outside Europe.
At the closing of the transaction, CMB will pay SEACOR Marine £32.8 million in cash, and assume all of the approximately £20.4 million of debt outstanding under Windcat’s existing revolving credit facility. In USD, the figures are equivalent to approximately US$44.6 million and US$27.8 million, respectively, based on the USD to GBP closing exchange rate on December 17, 2020.