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Fred. Olsen Windcarrier takes control of offshore wind installation vessel

Image Source: Fred. Olsen Windcarrier (http://windcarrier.com/)

December 17 (Renewables Now) - Norway-based offshore wind services company Fred. Olsen Windcarrier AS (FOWIC) has agreed to acquire a 51% stake in the owner of the Seafox 5, an offshore wind transport and installation vessel.

FOWIC, which is an indirect wholly-owned unit of Bonheur ASA (OSL:BON), has signed a deal to buy a majority stake in Seafox 5 Ltd (SF5) from the Seafox International Group. The purchase price for the shares and a pro rata part of shareholder loans is USD 73.6 million (EUR 64.9m).

The deal will add the Seafox 5 multi purpose jack up construction vessel to FOWIC’s fleet, which currently includes two similar units -- the Brave Tern and Bold Tern. The buyer will have the new vessel under commercial, technical and administrative management, while a wholly owned subsidiary of Keppel Offshore and Marine Ltd will continue to own the remaining 49% of SF5.

FOWIC also has seven crew transport vessels and is the majority owner in turbine technicians provider Global Wind Service.

(USD 1.0 = EUR 0.881)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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