Acergy, Subsea 7 complete deal

Jan. 7, 2011
The combination of Subsea 7 SA and Acergy SA was completed today, as scheduled.

Offshore staff

LUXEMBOURG – The combination of Subsea 7 SA and Acergy SA was completed today, as scheduled.

When we announced the intention to combine both organizations we said this was an excellent strategic fit, with industry fundamentals strongly supporting the logic of the combination,” said Kristian Siem, chairman, Subsea 7. “Now that we have closed I strongly believe that the logic behind the combination is correct.”

“Subsea 7 S.A. will benefit from the value created by the combination of our people, our expertise and our highly complementary fleet, supported by a larger capital base and the synergies expected to result from the combination,” added Jean Cahuzac, CEO.

1/6/2011