Kristian Siem's Siem Industries will buy NOK 297m ($34.64m) of bonds issued by sister company Siem Offshore.

Last month, it launched an offer to acquire debt worth more than $23m if bondholders approved an amendment proposal.

Siem Industries said on Thursday it had won acceptances from holders of NOK 98m in SIOFF01 and NOK 199m in SIOFF02.

Siem Offshore has asked to extend the maturity of the two bonds by 2.75