SBM Offshore Sells GustoMSC Subsidiary

Dutch oilfield services firm SBM Offshore announced Monday that it has agreed to sell its offshore design and engineering subsidiary GustoMSC to private equity group Parcom Capital for $185 million cash.

SBM said this is a first step in its $400 million divestment program that it announced in August 2012.

SBM Offshore CEO Bruno Chabas commented in a company statement:

"We are pleased to have reached an agreement with Parcom to sell GustoMSC. Parcom is in a good position to achieve, jointly with GustoMSC's management, the business's potential. This transaction allows SBM Offshore to release substantial capital and focus exclusively on FPSOs, and associated products and services, in line with strategy. I wish GustoMSC and its employees all good fortune for the future."

GustoMSC supplies proprietary designs of mobile offshore units and for delivery of associated equipment.
 

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  WA Court Orders OBL to Resign as EP487... (May 27)
 -  Real Energy Completes Taramara-1 Fract... (May 27)
 -  Indonesia Awards North Kalimantan's Of... (May 27)
 -  Amec FW Clinches KOC's FEED Contract t... (May 27)
 -  Malaysia's ICON Posts Revenue of $12.8... (May 27)


Most Popular Articles

From the Career Center
Jobs that may interest you
Division Order Analyst - Midland
Expertise: Accounting|Customer Service|Lease Analyst
Location: Midland, TX
 
Natural SalesAccount Executive
Expertise: Business Development
Location: Houston, TX
 
Lead Automation Technician - Permian Basin - TX - NM
Expertise: Field Comm / SCADA|Field Service Tech|Process Control
Location: Texas, United States
 
search for more jobs

Brent Crude Oil : $49.59/BBL 0.30%
Light Crude Oil : $49.48/BBL 0.16%
Natural Gas : $1.96/MMBtu 1.50%
Updated in last 24 hours