OHT's new state-of-the-art wind-farm vessels provided a strong draw for Kristian Siem-backed Subsea 7 as it targeted a deal to take over the Norwegian shipowner.
The two companies announced a merger on Thursday that will see Subsea 7's renewables business combined with OHT, which will retain its Oslo listing and be renamed Seaway 7.
Each side is bringing five existing ships to the combination, but OHT also has two foundation and installation vessels on order in China, with three options attached.
