Norwegian Competition Authorities Approve Sale of Reef Subsea

The Norwegian Competition Authorities have approved the sale of GC Rieber Shipping’s share in Reef Subsea to HV V Invest Golf AS and HV V Invest Golf II AS.

The sale was announced on 28 January, and the agreed purchase price between the parties is NOK 175 million.

GC Rieber Shipping decided to sell its stake in Reef Subsea and focus on its core business and expertise within ownership, development and management of advanced vessels within the offshore market.

The transaction is expected to be completed on 26 February 2014.

Subsea World News Staff, February 25, 2014;  Image: Reef Subsea