Norwegian oil and gas services player Subsea 7 has signed an agreement to acquire Germany’s Siem Offshore Contractors (SOC) and two vessels, expanding further into the renewables segment.
The acquisition will include the entire issued share capital of SOC, the inter-array cable lay vessel Siem Aimery and the support vessel Siem Moxie.
The €140m ($170m) deal is still subject to competition clearance in Germany.
