Wednesday 1 June 2022

NorSea gets an even stronger main owner, when Wilhelmsen buys out the other external owners and thus secures 99% ownership of the company.

NorSea welcomed Wilhelmsen as one of the owners back in 2012. The latest transaction increases Wilhelmsen's stake from 75% to 99%.

The former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have now sold their respective shareholdings of approx. 12%, while NorSea employees retain the remaining 1% of the shares.

Much of Norway's activities and ambitions within the current offshore industry and future renewable energies are focused in geographical areas where NorSea owns and operates its bases. This provides a unique opportunity to be part of these value chains, something NorSea and Wilhelmsen work hand in hand to achieve.

- NorSea's coastal infrastructure and strong position in the offshore industry, opens up a number of opportunities to take on key roles in the restructuring that is taking place in the energy industries and maritime industries. Over time, Wilhelmsen has proven to be a very active and positive supporter of NorSea, through participation in a number of commercial initiatives and active support for our activities. Having such a strong owner behind us, who shares our ambitions and long-term perspective, means that we can pursue opportunities when they come and take advantage of an enthusiastic partner while working for increased growth in our various business segments, says John E. Stangeland, CEO of NorSea.

The enthusiasm is shared by the management in Wilhelmsen:

- Our partnership with NorSea has developed and strengthened over many years, across a number of projects, joint ventures and joint ambitions. Eidesvik and Simon Møkster have been involved in building this connection, and we greatly appreciate their efforts, says CEO of Wilhelmsen, Thomas Wilhelmsen.

- This latest transaction shows our continued belief in the expertise and values ​​of NorSea, and supports the Wilhelmsen Group's long-term strategy towards the supply base industry and other exciting initiatives in the ocean space, says Wilhelmsen.

- We are already well organized to take exciting initiatives that support the green shift. Wilhelmsen's ownership in NorSea will be a catalyst to ensure that we continue to build a sustainable supply chain for the oil and gas industry, as well as expand our business portfolio to new activities that support the energy transition, says Jan Eyvin Wang, Executive Vice President New Energy in Wilhelmsen and Chairman of NorSea group.