Subsea 7 lands acquisition of Siem subsidiary

Subsea 7 and Siem Offshore have reached agreement on the sale of Siem's cable business after all. Subsea 7 is also acquiring two vessels from Siem Offshore in a deal totaling EUR 140 million.

Photo: Subsea 7

Subsea 7 has reached agreement with Siem Offshore for the acquisition of the company's subsidiary, cable company Siem Offshore Contractors, as well as two vessels. The transaction totals EUR 140 million (USD 170 million).

Subsea 7 announced the agreement Thursday, while also publishing its annual report.

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