Orbis Ups Subsea 7 Stake

UK-based offshore engineering company, Subsea 7, has today in its Oslo Stock Exchange filing informed that Orbis Investment Management’s aggregate holdings in the company exceeded 5 percent.

Orbis Investment Management, with its general office in Hamilton, Bermuda, has hereby become Subsea 7’s third-largest shareholder.

Siem Industries Inc. is the biggest shareholder in Subsea 7 with over 21 percent, followed by Norway’s Folketrygdfondet with little above 6 percent.

According to Subsea 7 and the data provided by NASDAQ OMX as at 31 December 2014, Orbis Investment Management previously held 3.9 percent of the company behind Sweden’s Alecta with 4.6 percent.

Subsea World News Staff