Helix Energy Solutions Group, Inc. Provides Deal Update in its Quarterly Report Ended June 30, 2019

Source Company Press Release
Company Helix Energy Solutions Group
Tags Country: United States, M&A: Corporate Deal, Deals, Segment: OFS News
Date July 26, 2019

On May 29, 2019, we acquired a 70% controlling interest in Subsea Technologies Group Limited (“STL”), a subsea engineering firm based in Aberdeen, Scotland, for $5.1 million, including $4.1 million in cash and $1 million that we advanced to STL in December 2018. The acquisition is expected to strengthen our supply of subsea intervention systems. The remaining 30% noncontrolling interest holders have the right to put their shares to us in June 2024.

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