Subsea 7 has successfully acquired certain businesses of subsea construction vessel joint venture EMAS Chiyoda Subsea (ECS).
The deal, which was completed on Thursday, will see Oslo-listed Subsea 7 take over ECS’s Singapore, US and Saudi Arabia entities.
As a result of the transaction, Subsea 7 says it has acquired about $850m of order backlog, including five projects, each with backlog exceeding $50m.
