Norway's Odfjell family is buying Dutch offshore vessel owner Oceanteam as it eyes expansion in offshore wind markets.
The family's Farvatn holding company is to make a mandatory offer for Oslo-listed Oceanteam's shares as part of a merger it is engineering with Norwegian offshore cable contractor Passer Group.
The deal will see Oceanteam buy Passer by handing over 71.42m of its shares to Passer at NOK 3 each in a deal worth NOK 240m ($25m).
