July 7 - DONG Energy and Siemens have signed an agreement with Belgian GeoSea, a subsidiary of DEME Group, stating that GeoSea will acquire the full ownership of A2SEA.
A2SEA will continue to operate out of Denmark with offshore wind turbine service and installation.
DONG Energy and Siemens have been owners of A2SEA since 2009, when both companies needed to consolidate their position in the offshore wind market. However, owning A2SEA is no longer within the scope of their core businesses and therefore the divestment came naturally, the companies said in a statement.
Luc Vandenbulcke, GeoSea managing director, said: "The activities of A2SEA represent a strong and complementary fit with GeoSea's operations. The combined organisations will be well positioned to provide a broader range of integrated services and solutions to offshore wind energy customers."
The transaction, which is awaiting authority approval, is expected to be completed in the third quarter of 2017.
