BTG, Deep Sea Supply form offshore supply vessel joint venture

BTG Pactual Oil & Gás Participações S.A. has agreed to buy 50% ownership in two Deep Sea Supply Plc subsidiaries that operate platform supply vessels and anchor handling tug supply vessels in Brazil.

Offshore staff

SÃO PAULO, BrazilBTG Pactual Oil & Gás Participações S.A. has agreed to buy 50% ownership in two Deep Sea Supply Plc subsidiaries that operate platform supply vessels and anchor handling tug supply vessels in Brazil.

The $852-million joint venture will get 14 vessels and will take over financing of those vessels plus six additional vessels under construction by Sinopacific Shipbuilding.

The agreement is expected to close in 1Q 2013.

BTG Pactual is an investment bank in Latin America.

1/23/2013

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