SBM Offshore Completes Purchase of Constellation’s Shares in Five FPSOs

The Dutch FPSO Supplier SBM Offshore Completed the Acquisition of Constellation’s Shares in Five Brazilian FPSOs This Friday

SBM Offshore was chosen as the winner of the public auction for equity participation in five FPSOs in October. With the acquisition, SBM Offshore purchased minority stakes held by Constellation in entities related to the City of Paraty (20%), City of Ilhabela (12.75%), City of Marica (5%), City of Saquarema (5%), and Capixaba FPSOs (20%).

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SBM Offshore was already the majority shareholder of the related entities and the operator of these FPSOs before the transaction was completed. SBM said on Friday that it paid a total cash consideration of US $ 149 million upon completion of the transaction. According to the company, the completion of the transaction concludes a long-term partnership between the companies established in 2004. It is worth noting that Brazil is SBM Offshore’s largest market. By the end of 2018, the company had a total of 13 FPSOs, seven of which were deployed in Brazil.