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.