Helix Energy Solutions Group, Inc. announced today that it has closed the previously announced sale of its pipelay vessel, the Caesar, to Trevaskis Ltd.
Cash proceeds of approximately $108 million of the total selling price of approximately $138 million were received at closing; the Company had previously received a $30 million cash deposit for this transaction in October 2012.
The sale of the Company’s remaining pipelay vessel, the Express, is expected to close in July 2013.
Owen Kratz , President and Chief Executive Officer of Helix, stated that “the sale of the Caesar is another important milestone in our strategy to exit our non-core businesses while remaining focused on enhancing and expanding our core well intervention and robotics businesses.”