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SBM Offshore N.V — M&A Activity 2012
Nov 29, 2012
3882_iss_2012-11-29_d5cbbfe2-bb94-4da0-bca0-3e498dcf00cb.pdf
M&A Activity
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Press release
Closing of sale of GustoMSC
29 November 2012
SBM Offshore has completed the divestment of GustoMSC
SBM Offshore is pleased to announce that the sale of GustoMSC, its non-core design and engineering subsidiary, became unconditional on 28 November 2012 and that the approximate \$185 million transaction with Parcom Capital has been completed.
SBM Offshore in The Netherlands now exclusively focused on FPSOs
The sale of GustoMSC is a further step in enabling SBM Offshore to pursue its FPSO-driven strategy, allowing its Dutch execution centre in Schiedam to focus exclusively on FPSOs and FPSO-related products.
Over the years this execution centre has developed a world-renowned track record in designing FPSOs for the Brazilian market, notably with the ground-breaking FPSO Espadarte in 2000.
Over the last decade it has developed into a fully equipped execution centre with approximately 550 staff, with capacity to design two FPSO projects simultaneously. The FPSO projects Paraty and Ilhabela, both for client Petrobras, are currently being designed out of the SBM Schiedam office.
Bruno Chabas, CEO of SBM Offshore commented: "The sale of GustoMSC closes a chapter in our history and our past association with shipbuilding. Significantly, our Schiedam execution center, home to an innovative engineering skills base within the Company, can now focus fully on what we do best: FPSOs."
Corporate Profile
SBM Offshore N.V. provides floating production solutions to the offshore energy industry, over the full product lifecycle. The Company is market leading in leased floating production systems with multiple units currently in operation, and has unrivalled operational experience in this field.
The Company's main activity is the design, supply, installation and operation of Floating Production, Storage and Offloading (FPSO) vessels. These are either owned and operated by the Company and leased to our clients or supplied on a turnkey sale basis.
The Company has built over several years a large in-house engineering, procurement and project management capability, to ensure consistency from project to project, and so enable a continuous improvement process for enhancement of product quality.
Headquartered in Schiedam, the Company employs over 6,900 people worldwide, who are spread over six execution centres, eight operational shore bases, several construction yards and the offshore fleet of vessels.
The Board of Management Schiedam, 29 November 2012
For further information, please contact:
Investor Relations
Sebastiaan de Ronde Bresser Investor Relations Officer
| Telephone: | (+377) 92 05 85 15 |
|---|---|
| Mobile: | (+33) 643 919 312 |
| E-mail: | [email protected] |
| Website: | www.sbmoffshore.com |
Media Relations
Anne Guerin-Moens Group Communications Director
| Telephone: | (+377) 92 05 30 83 |
|---|---|
| Mobile: | (+377) 680 863 691 |
| E-mail: | [email protected] |
| Website: | www.sbmoffshore.com |
GustoMSC
Nils van Nood Managing Director
| Telephone: | (+31) 10 232 0434 |
|---|---|
| E-mail: | [email protected] |
| Website: | www.gustomsc.com |
Parcom Capital
Piet-Hein de Jager Partner
| E-mail: | [email protected] |
|---|---|
| Website: | www.parcomcapital.com |
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.