SBM Offshore Said The Auction Consists Of The Minority Stake Of Constellation’s Affiliated Companies In The Entities Related To The Five FPSOs.
The Dutch SBM Offshore reported on Monday, September 30, that it is interested in 5 Constellation FPSO vessels, previously known as Queiroz Galvão Oil and Gas SA. SBM Offshore Has Started The Construction Phase Of The Liza Unity Floating Storage And Offloading Unit (FPSO).
SBM stated that the auction consists of the minority stake of Constellation’s affiliated companies in the entities related to the five FPSOs.
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The FPSOs are Cidade de Paraty, Cidade de Ilhabela, Cidade de Marica, Cidade de Saquarema, and Capixaba. Constellation’s stake in each of the FPSOs is 20%, 12.75%, 5%, 5%, and 20%, respectively.
SBM stated that it is already the majority shareholder of the related entities and the operator of these FPSOs.
“To Allow An Efficient Continuation Of The Sales Process For All Parties Involved, Should SBM Offshore Be A Successful Bidder, SBM Offshore Has Reached A Principle Agreement With Constellation Regarding The Terms Of The Proposed Transaction”, The Company Stated.
This contract, according to SBM, remains subject to the outcome of the competitive auction process.
The Sale Of Constellation’s Holdings In The Five FPSOs Is Part Of The Company’s Debt Restructuring Plan, Which Includes Raising New Resources, Capital Contributions From Shareholders, And Asset Disposals.
SBM Offshore Is A Public Holding Company Based In Amsterdam. It Holds Direct And Indirect Interests In Other Companies That Collectively With SBM Offshore NV Form The SBM Offshore Group.
SBM Offshore Provides Floating Production Solutions For The Offshore Energy Sector Throughout The Product Lifecycle.
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