Subsea World News has put together a recap of the most interesting articles from the previous week (November 20– November 27).
Funds advised by a private equity investment firm, Triton, will become the largest shareholder and should, in collaboration with some of the existing shareholders in DeepOcean, support the company’s growth over the coming years.
DeepOcean has also strengthened the company’s balance sheet and liquidity with an equity raise.
Operating under the name Neptune Subsea, the company will be led by John Allen, a Houston-based strategic business development advisor, formerly of GE Oil and Gas. Allen is expected to drive the expansion and maximise Neptune’s opportunities in the region.
Namely, on November 14 a diver, Shohei Suzuki, did not return to the surface after a dive to install scientific equipment. The coastguards, police, fire rescue service and local fishermen made a surface search for the missing diver and the coastguards carried out underwater searches until forced to stop by nightfall.
The vessel will be sold for USD 10.25 million.
Sea Horizon, with a length of 110 meters and a beam of 30 meters, has been mortgaged in favor of DBS Bank (DBS) as security for the company’s obligations under certain banking facilities extended by DBS to the company.
Clearance decisions have previously been provided by antitrust authorities in the United States, India, Turkey, Mexico and Russia.
In addition, Technip and FMC Technologies announced their nominees to the board of directors of the combined company at the close of the proposed combination.