A2SEA acquired by GeoSea
Denmark-headquartered DONG Energy and German Siemens have signed an agreement with Belgian GeoSea stating that GeoSea will acquire the full ownership of A2SEA. A2SEA will continue to operate out of Denmark with offshore wind turbine service and installation.
DONG Energy and Siemens have been owners of A2SEA since 2009, when both companies needed to consolidate their position in the offshore wind market. However, owning A2SEA is no longer within the scope of their core businesses and therefore the divestment came naturally.
The Belgian company GeoSea operates within complex marine engineering projects and is owned by DEME Group, a world leader in highly specialised fields of dredging, marine engineering and environmental remediation.
The transaction, which is awaiting authority approval, is expected to be completed in the third quarter of 2017.
By Jake Frith
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