Friday 16 February 2018

The acquisition of the IKM Subsea & Technology Group represents a significant milestone for Hunter Group. The IKM Subsea & Technology Group is one of the leading remotely operated vehicle ("ROV") operators in the North Sea with global market presence and will provide Hunter Group with a strong platform for growth in the subsea segment. It is furthermore a good fit with Hunter Group's focus on differentiating technologies at competitive cost. The IKM Subsea & Technology Group is in the forefront of developing new ROV technologies as demonstrated by a 10 years contract with Statoil Petroleum AS for four ROVs which are operated from the IKM Subsea & Technology Group's onshore control centre. Following completion of the Transaction, IKM Gruppen will become a significant shareholder in Hunter Group and will focus its future subsea activities through Hunter Group.