DEME’s GeoSea Acquires HOCHTIEF’s Offshore Assets

DEME’s marine foundations specialist GeoSea announced the acquisition of offshore assets of Germany’s HOCHTIEF.

The financial close of the transaction has now been achieved, the company informed.

HOCHTIEF is selling all its offshore assets to marine contractor and long-term partner GeoSea. GeoSea acquires full control of jack-up vessels ‘Innovation’ and ‘Thor’ and pontoons ‘Wismar’, ‘Bremen’ and ‘Stralsund’. The vessel ‘Vidar’ will be transferred upon completion of a current HOCHTIEF project. GeoSea also takes over some obligations with regard to personnel.

Luc Vandenbulcke, Managing Director GeoSea: “This transaction is a significant contribution to expand GeoSea’s activities in the European energy market. All assets which transfer as of today are currently employed on GeoSea projects to fulfill the requirements of the order book and meet the increasing demand.”

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