3 August 2021 5:10 GMT
Updated
3 August 2021 5:10 GMT
in
Perth
Oslo-listed service provider Subsea 7 has struck a deal to acquire a majority stake in Spanish floating wind technology developer Nautilus Floating Solutions.
Subsea 7 confirmed it would be acquiring a 59.12% stake in Nautilus and assuming four of the seven positions on the Nautilus board. A Subsea 7 spokesperson confirmed to Upstream the company would not be disclosing the financial details of the deal.
Subsea 7 did confirm in Monday’s statement that European research and technological development centre Tecnalia, as well as mooring system supplier Vicinay would remain shareholders of Nautilus, with equity interests of 29.14% and 11.74% respectively.