Technip to sell controlling stake in India dive specialist
Technip has agreed to divest a majority stake of between 51% and 75% in Seamec to HAL Offshore Ltd., India.
PARIS – Technip has agreed to divest a majority stake of between 51% and 75% in Seamec to HAL Offshore Ltd., India. The value of the sale could range from $27.7-40 million.
Seamec is said to be India’s leading provider of diving support vessel (DSV)-based diving services globally. It owns and operates five DSVs. Technip subsidiary Coflexip Stena Offshore Mauritius owns 75% of the company.
HAL providessubsea and engineering, procurement, and construction services to the Indian oil and gas sector. It currently owns two multi-purpose supply and support vessels, one of which can be configured for diving support, and is part of the M M Agrawal Group.