SBM Offshore and Constellation complete minority ownership transaction

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SBM Offshore and Constellation Oil Services Holding S.A. said on Friday they have successfully completed the transaction regarding the sale to SBM Offshore of Constellation’s equity ownership in the lease and operating companies related to five Brazilian FPSOs.

This follows the announcement by SBM Offshore on October 18, 2019, confirming the Dutch floater specialist as the successful bidder in the public auction for the equity ownership.

SBM Offshore was already the majority shareholder of the related entities and operator of these FPSOs before the transaction was completed.

Upon completion of the transaction SBM Offshore paid the total cash consideration of US$149 million.

The completion concludes a successful long-term partnership between the companies which was established in 2004.