Siem Offshore AS (DE:S5H0) has released an update.
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Siem Offshore AS has announced a significant deal involving the sale of nine vessels to a major shareholder, which will result in the shareholder acquiring 35.7% of the company’s shares and taking on MUSD 117.5 in debt. The completion of this transaction is anticipated for July 2024 and is part of a strategic refinancing plan that includes debt repayment and new credit facilities coinciding with the vessel sale.
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