North Energy Capital Ups Reach Subsea Stake

North Energy Capital has acquired additional stake in Norwegian contractor Reach Subsea, the Oslo-listed firm informed on Friday.

With acquisition of 4,619,014 shares, North Energy Capital has become the second largest shareholder in Reach Subsea with 9.8 percent of the issued shares and voting rights.

In addition, West Supply II Operation has divested 5.5 percent of outstanding shares in Reach Subsea, and as of today holds no shares in the company.

The company’s largest shareholder, as per June 29, 2016, is Accello Partners with 30.3 per cent, followed by, as of today, North Energy Capital with already mentioned 9.8 percent and Joso Invest with 7.9 percent in the third place.

For the second quarter of 2016, Reach Subsea generated net profit of NOK 3.3 million, or NOK 0.04 per share, on revenue of NOK 89.5 million.

Subsea World News Staff

Share this article

Follow Subsea World News


<< Sep 2017 >>
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1


2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

EEMUA subsea engineering course: materials selection and corrosion control

This two and a half day training course is recommended for both discipline and project focused engineers from a variety of backgrounds…

read more >


Join senior executives from oil and gas majors, service companies, technology suppliers and industry experts at this year’s premier event…

read more >

Kuwait Oil & Gas Show

Kuwait Oil & Gas Show is the Kuwait International Fair Ground in Kuwait City, Kuwait. This event showcases product from Chemicals & Dyes, Electronics & Electrical Goods, Hand, Machine & Garden Tools, Petroleum, Oil & Gas, Power & Renewable Energy industries. More info

read more >