Cal Dive sells GoM surface diving fleet

Cal Dive International Inc. has sold its US Gulf of Mexico shallow-water surface diving fleet to a privately held company for $18.5 million and a 19.9% minority interest in the entity acquiring the assets.

Offshore staff

HOUSTON –Cal Dive International Inc. (NYSE:DVR) has sold its US Gulf of Mexico shallow-water surface diving fleet to a privately held company for $18.5 million and a 19.9% minority interest in the entity acquiring the assets.

The assets sold comprise eight surface diving vessels and miscellaneous inventory and equipment. This transaction is part of Cal Dive’s strategic plan to divest noncore assets, strengthen the balance sheet, and pursue opportunities that enhance shareholder value.

Cal Dive also entered into a multi-year alliance agreement with the buyer under which the buyer will have the exclusive right to provide any surface diving services required by the company in the US Gulf of Mexico to support pipelay, decommissioning, platform installation, and other integrated services.

06/04/2014

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