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

Events>

<< Feb 2018 >>
MTWTFSS
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 1 2 3 4

FPSO Roundtables 2018

The entire FPSO value chain is now critically aware of how conventional modes of cooperation and project delivery must change in light…

read more >

4th FPSO Europe Congress 2018

Welcome to the 4th FPSO Europe Congress, the region’s largest platform for oil companies, FPSO contractors, investors and solution providers…

read more >

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

IADC/SPE Drilling Conference and Exhibition

The conference is co-hosted by the International Association of Drilling Contractors (IADC) and the Society of Petroleum Engineers (SPE)…

read more >