Offshore staff
BERGEN, Norway -- GC Rieber Shipping has made a voluntary offer for the acquisition of all the issued and outstanding shares in Sea4.
Sea4 has contracted two IMR subsea vessels of Skipsteknisk ST-254L CD design. The vessels are currently being built at Freire Shipyard (Spain) under a Spanish tax lease arrangement and are scheduled for delivery in June 2010 and March 2011, respectively.
GC Rieber Shipping's offer is conditional on obtaining at least 67% of the shares in Sea4. The offer is further conditional on Sea4's continued ownership of its special purpose subsidiaries Sea4 I Shipping and Sea4 II Shipping, as well as satisfactory due diligence. GC Rieber Shipping expects to be able to conclude the due diligence process within a short period of time.
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