Norway’s Rasmussen Group has upped its holding in seismic vessel owner Shearwater Geoservices through debt conversion and share deals.
Oslo-listed Shearwater said its major shareholder now has 88.8% of the company, a chunk worth NOK 7.7bn ($687m).
The owner of 23 survey ships added that Rasmussen had converted an interest-bearing loan provided to Shearwater in 2021 as part of the financing of vessel and streamer investments.
