Marine Subsea Partners with Consafe MSV for West Africa JV

Marine Subsea AS has entered into a Heads of Agreement with Consafe MSV to establish a joint venture to invest in a semisubmersible crane vessel for operation in West Africa. Marine Subsea will have a 60% ownership in the joint venture, while Consafe MSV will have a 40% ownership.

In connection with this new partnership, Marine Subsea is looking to raise NOK 480 million in a convertible bond issue. Pareto Securities ASA will be manager of the private placement.

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