Germany's NKT Cables is acquiring ABB’s global high-voltage cable system business with a total enterprise value of US$934 million. The business is part of ABB’s Power Grids division, which is currently undergoing a strategic review. The sale includes ABB's new cable laying vessel…
Brazil-Açu Superport, largest port infrastructure in Latin America, bets on Petrobras’ participation. Peter Wertheim provides the details. According to a recent study by Booz & Company cited by Brazil’s National Petroleum, Gas and Biofuels Agency (ANP)…
Against a background of continuing financial uncertainty the oil price remains reasonably high, as does the level of activity in the North Sea, particularly in Norway with the planned development of the substantial Johan Sverdrup find. Reserves estimated at 1…
National Oilwell Varco is looking to establish a major foothold in the flexible pipe business with the acquisition of Danish manufacturer NKT Flexibles, a joint venture between NKT Holding and Subsea 7 since 1999.The $670 million deal, announced early February…
FirmsTechnip acquired Global Industries in a deal worth $1.07 billion and expected to close early 2012. Technip sees the merger increasing its market reach in the Gulf of Mexico, Asia- Pacific and Middle East regions. Global Industries currently has about 2300 employees and operates 14 vessels…
A new international offshore contracting giant, with a market cap above $5.5 billion, backlog of $5.3 billion and over 12,000 employees, came into being last month with the combination of Acergy SA and Subsea 7 Inc. Meg Chesshyre looks at the rationale behind this high-profile marriage…
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