SBM to sell diving support and construction vessel
Aug. 21, 2020
In order to gain the flexibility required to divest the diving support and construction vessel SBM Installer, SBM Offshore will acquire the remaining 75% equity ownership in OSI.
Offshore staff
MONACO – The SBM Installer is a diving support and construction vessel owned by OS Installer Ltd., a joint venture owned 75% by Ocean Yield and 25% by SBM Offshore.
Ocean Yield has agreed to sell the 75% equity in the joint venture to SBM for about $30 million in cash. The transaction is expected to close around the end of 3Q 2020 and remains subject to final documentation and approvals.