Bergen Group has decided to divest the company’s activity at Hanøytangen. Sale agreements have been concluded with Semco Maritime for the operational activity and with Hellik Teigen AS for the real estate. The total transaction price is set to NOK 245 million.
The well-established industrial area at Hanøytangen outside Bergen has for many years been an important facility for the offshore division in Bergen Group. Going forward, Bergen Group has found a divestment necessary in order to strengthen the platform for further growth at Hanøytangen.
“The offshore market has become more challenging, volatile and complex. An increased international competition is expected, and this calls for a substantial and flexible project capacity as well as future investments in developing the yard. Bergen Group has in this respect evaluated various strategic alternatives and financial measures for Hanøytangen. Based on a comprehensive process, the board of directors in Bergen Group has concluded on a sale of both the real estate and the operating assets as the best alternative available”, states Magnus Stangeland, chairman of Bergen Group ASA.
The parties plan a final closing within 3-4 weeks from today. The sale agreement does not include the positive financial effect of the ongoing rig project on Safe Bristolia, which is expected to be finalised by Bergen Group around closing time.
When closing has taken place, Bergen Group will pass their position as a well-established provider of rig service, maintenance and classing over to Semco Maritime. “Bergen Group has over many years worked with Semco Maritime on various projects at Hanøytangen. We are satisfied with handing over the future development of this unique offshore yard to such a well-established international contracting and engineering company. We also see an exciting potential in a future cooperation between Bergen Group and the new owners at Hanøytangen, based on Bergen Group Services and their strong position within industrial and maritime service”, Magnus Stangeland comments.