Siem Offshore has sold the Multi Role Service Vessel (MRSV) Seven Sisters to Subsea 7.
The prize is USD 84 million. The vessel is scheduled for delivery in March 2013. The sales proceeds will be allocated to repayment of mortgage debt of approximately USD 38 million and to fund equity investments in the current new building program of four Offshore Subsea Construction Vessel to be delivered during the period from 2Q 2013 to 2Q 2014.
Siem Offshore will record a gain of approximately USD 28 million in 1Q 2013 following the sale of the vessel.
[mappress] Press Release , January 03, 2013