SBS Marine is a British offshore shipping company based in Aberdeen. The company operates a fleet of five modern and one older PSV vessels (Platform Supply Vessel) with a current turnover of approximately SEK 220 M on an annual basis.
The acquisition of SBS Marine is a part of TransAtlantic’s focus on the business area Offshore/Icebreaking in order to strengthen TransAtlantic’s product offering in the business area.
To finance the acquisition and to strengthen the company’s financial position in advance of the forthcoming division of the group, TransAtlantic conducts a rights issue of approximately SEK 550 M.
The Board of Directors1 in TransAtlantic regards the transaction as beneficial for the company and its shareholders and unanimously recommends the shareholders to approve the acquisition and the rights issue at the Extraordinary General Meeting in TransAtlantic, which will take place on November 7, 2011.
For further information please see press release: Download press release(Eng)