DNB Bank Takes 7% Stake in Ezra

Norway’s largest bank, DNB Bank ASA, has acquired a 7.04 per cent stake at offshore oil and gas contractor Ezra Holdings for S$24.84 million ($17.3 million), from Frontica Global Employment Limited, ultimately a subsidiary of Oslo-listed Akastor.

According to Ezra’s Singapore Stock Exchange filing, Frontica, prior to this transaction, owned approximately 218.6 million shares with 7.44 per cent interest, making it a substantial shareholder and one of Ezra’s largest stakeholders.

In a deal, struck on Friday, September 25, DNB Bank ASA, having no previous interest in Ezra, snapped up 207 million shares, in an off-market transaction, and turned into Ezra’s substantial shareholder, leaving Akastor’s subsidiary with some 11.6 million shares which has resulted in their ceasing to be substantial shareholders.

The details of the transaction, unknown until today, were announced following the statement on the progress of the deal Ezra made with Japan’s Chiyoda to sell half of its subsea business in a transaction which implies an aggregate deal value for EMAS CHIYODA Subsea of approximately USD 1.25 billion.

Subsea World News Staff

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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OCEANS 2019

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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