October 16 - International construction group Hochtief is selling its offshore assets to marine contractor and long-term partner, GeoSea.

GeoSea, the marine engineering arm of DEME, will acquire full ownership of the heavy lift jack-up vessel Innovation - one of the largest vessels of its type in the marine construction business.
 
Luc Vandenbulcke, managing director of GeoSea, commented: "Both market expectations and order book require continuous investments. This transaction is a significant contribution to expand GeoSea's activities in the European offshore wind market."

The sale is subject to certain customary conditions including regulatory approvals.

www.deme-group.com/geosea

www.hochtief.com

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