Seaway Heavy Lifting up for sale; Boskalis, Saipem, Heerema and Technip rumoured to be interested
Seaway Heavy Lifting, the Netherlands based off shore construction company, is up for sale, Dutch-language De Telegraaf wrote in a report citing unnamed insider sources. Heerema Marine Contractors, Boskalis, Saipem and Technip are rumoured to be potentially interested, the item noted.
Seaway Heavy Lifting would be valued at about USD 1bn, unnamed market sources said.
Seaway would not provide comments and referred to Subsea 7, one of its shareholders, the item noted. Subsea 7 did not comment either. Goldman Sachs was hired to assist with a review of Seaway's strategic options, and would not comment, the report noted.
Seaway has a strong position in the construction of off shore wind energy parks. This business suffers from current low oil prices, the item added.
An unnamed insider said he is not surprised by the sale and expects job cuts as well, the report noted.
Current shareholders of Seaway Heavy Lifting are Subsea 7 and Russian 'oligarchs', the report said.
de Telegraaf