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  • Subsea 7 re-affirms its proposal to acquire McDermott
    édité le 25/04/2018 - Plus de news de "Subsea 7" - Voir la fiche entreprise de "Subsea 7"


Subsea 7 re-affirms its proposal to acquire McDermott
Subsea 7 S.A. today announced a re-affirmation of its interest in acquiring McDermott International, Inc. (“McDermott,” NYSE: MDR).

Subsea 7’s proposal is subject to the termination of McDermott’s pending transaction with CB&I (NYSE: CBI). Subsea 7 is open to considering amending its proposal if it can discover additional value through discussions with the McDermott management team.

Jean Cahuzac, Subsea 7’s CEO stated that “A combination with McDermott is supported by compelling industrial logic. We would welcome the opportunity to engage with McDermott’s Board of Directors and management to discuss our proposal and the substantial upside opportunity represented by ongoing participation in the equity, with a view to achieving a combination that would be in the best interests of our respective shareholders.”

About Subsea 7 S.A.

Subsea 7 (Oslo Børs: SUBC, ADR: SUBCY) is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. Subsea 7 provides technical solutions to enable the delivery of complex projects in all water depths and challenging environments. Subsea 7 S.A. is listed on the Oslo Bors (SUBC), ISIN LU0075646355.

About McDermott

McDermott (NYSE:MDR) is a leading provider of integrated engineering, procurement, construction and installation (“EPCI”), front-end engineering and design (“FEED”) and module fabrication services for upstream field developments worldwide. McDermott delivers fixed and floating production facilities, pipelines, installations and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons.
McDermott’s customers include national and major energy companies. Operating in approximately 20 countries across the world, McDermott’s locally focused and globally integrated resources include approximately 11,800 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices.
McDermott is renowned for its extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver.
McDermott has served the energy industry since 1923, and shares of its common stock are listed on the New York Stock Exchange. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates.


Origine : Communiqué Subsea 7

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