Dutch shipowner Fugro has offloaded its cable-laying and trenching business to Global Marine Group (GMG) of the UK.
The transaction, valued at $73m, will see Fugro take a 24% stake in GMG.
The holding is worth $65m, while the deal also includes a one-year secured seller's loan of $7.5m.
GMG, with a fleet of eight ships, has taken over Fugro's 6,500-dwt cable-layer Fugro Symphony (built 2011), as well as 23 Aberdeen staff, two trenchers and two ROVs.
