Helix completes Caesar sale

Helix Energy Solutions Group, Inc. closed the sale of its pipelay vessel, the Caesar, to Trevaskis Ltd. Cash proceeds of approximately US$108 million of the total selling price of approximately $138 million were received at closing; the company had previously received a $30 million cash deposit for this transaction in October 2012.

The sale of the Houston-based company’s remaining pipelay vessel, the Express, is expected to close in July 2013.

“The sale of the Caesar is another important milestone in our strategy to exit our non-core businesses while remaining focused on enhancing and expanding our core well intervention and robotics businesses,” said Owen Kratz, president and CEO of Helix.

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