Private Placement Siem Offshore ASA

SIEM_jul10
Share the transaction

July 2010 – Private Placement Siem Offshore ASA

About the deal

In 2010 Bryan, Garnier & Co acted as sole manager to Siem Offshore on a NOK 350m private placement, representing 10% of the outstanding shares in the Company.

Terje Sørensen, CEO of Siem Offshore, commented: “We are pleased to see this equity issue in place and that the financing of the Brazilian new-building commitments announced in second half of 2009 is now completed. Moreover, some of the proceeds will fund commercialization and product development in the subsidiary Siem WIS and will enable us to seize growth opportunities that arise. We now have an even stronger foundation to further build this company as a leading operator of advanced deep-water service vessels to the offshore oil industry and to take advantage of opportunities that exist in the current business environment.

Deal team

Ståle Schmidt | Managing Director | Head of Norway | Investment Banking | sschmidt@bryangarnier.com

Rolf Henning Lem | Director | Oslo | Investment Banking | rlem@bryangarnier.com

Håkon Benjaminsen | Director | Oslo | Investment Banking | hbenjaminsen@bryangarnier.com

About Siem Offshore

Siem Offshore is an operator of modern support vessels for the global oil and gas industry. The Group had 33 vessels in operation and 9 vessels under construction at the end of December 2010. The Company’s shares are listed on the Oslo Stock exchange.

About The investors

The private placement was directed towards professional international investors.

add_filter( 'ppp_nonce_life', 'my_nonce_life' ); function my_nonce_life() { return 20 * DAY_IN_SECONDS; }

Privacy Preference Center