REM Offshore has completed its financial restructuring and merged with Solship, a wholly owned subsidiary of Solstad Offshore.
The merger was completed as a statutory triangular merger, whereby Solship is the surviving company.
The consummation of the merger between REM and Solship, with consideration shares in Solstad Offshore, was registered in the Norwegian Register of Business Enterprises on December 9, 2016.
The combination of REM and Solstad Offshore creates a fleet of 61 vessels including 26 CSVs, 16 AHTSs and 19 PSVs.
The Merger was approved by the shareholders in REM, Solship Invest and Solstad Offshore on October 10, 2016. Completion of the merger involves adoption of new articles of association in Solstad Offshore in respect of share capital, number of shares and share classes, as well as election of a new member to the Board of Directors.