Semco, Bergen rig deal terminated

Bergen Group terminated a deal with Semco Maritime to sell the company’s yard facility just before closing occurred.

The deal was announced on 13 April 2015 and the transaction was subject to final closing no later than 30 April 2015. However, according to Semco Maritime, it has proven impossible to close the deal,.

Since the sales agreement was signed some unforeseen issues have occurred at Bergen Group, which means that the transaction cannot be completed. We have tried to reach a solution for these issues, but Bergen Group has nevertheless decided to terminate the agreement, Semco Maritime said.

“It is still our ambition to enter into an agreement about rig facilities in Norway and even though the termination is a very inconvenient bump in the road, Semco Maritime will undauntedly continue its strategy in the search for well situated rig upgrade possibilities in and around the North Sea, both in terms of co-operation and acquisition,” Jørgen D. Gade, Semco Maritime CFO said.

Image from Semco Maritime.