Sembcorp Marine completes Sevan transaction
Sembcorp Marine Integrated Yard has acquired the interests and titles to all of Sevan Marine’s intellectual property.
SINGAPORE – Sembcorp Marine Integrated Yard (SMIY) has acquired the interests and titles to all of Norwegian contractor Sevan Marine’s intellectual property.
Sevan is best known for its development of cylindrical shape FPSOs and drilling platforms.
The transaction also covers a 95% interest in Sevan subsidiaryHiLoad LNG, the transfer of 26 Sevan Marine employees (subject to their acceptance).
In addition, SMIY has also acquired the outstanding 5% of HiLoad LNG held by a minority shareholder.
SMIY has now established a fully owned subsidiary in Norway, Sevan SSP.