The transaction price represents a 55 ppercentremium to Global Industries' share closing price on September 9, 2011, the last day prior to announcement of the transaction. The transaction is to be funded using existing cash balances and credit facilities.
Global Industries brings to Technip its complementary subsea know-how, assets and experience, comprising 2,300 employees operating 14 vessels. The fleet includes two newly-built leading edge sister ships, Global 1200 and Global 1201, both with S-Lay and Heavy Lift capabilities.
The transaction is expected to close early in 2012.
January 12, 2011
Marine Log News
- 2012-06-01 - GC Rieber Shipping orders subsea construction vessel
- 2012-10-22 - Chouest forms subsea services JV with FMC Technologies
- 2012-11-08 - Rem Offshore orders OSCV at Kleven Verft
- 2012-11-14 - Demand for high end subsea vessels is still high
- 2012-11-19 - Otto Candies to build new Marin Teknikk subsea vessel
- 2013-01-04 - Latest subsea-support vessel joins Vroon Offshore fleet
- 2013-01-14 - Ezra Holdings divisions win major contracts
- 2013-01-29 - Mermaid Maritime wins subsea contracts worth $30 million
- 2013-02-14 - STX OSV announces three OSCV orders in one day
- 2013-03-14 - EMAS AMC wins major Statoil subsea contract
- 2013-04-04 - Nigerian owner orders subsea IMR vessel at Havyard
- 2013-04-09 - Subsea 7 wins $350 million Petrobras contract
- 2013-04-22 - Keppel gets into ocean mining
- 2013-04-22 - Island Offshore wins major contract extension
- 2013-05-02 - EMAS AMC wins $75 million Statoil subsea contract