A2SEA sold to Belgian GeoSea
DONG Energy and Siemens have entered an agreement with the Belgian company GeoSea that GeoSea acquires full ownership of A2SEA. A2SEA will continue to have its headquarters in Denmark and work with installation and maintenance of offshore turbines.
"I am pleased that we have now found a new owner of A2SEA. A2SEA is a pioneer in the industry and one of the leading players in the market for the installation of offshore wind turbines. But it is not part of our core business to own an installation company and therefore we have applied for a new owner," says Thomas Dalsgaard, Executive Vice President of DONG Energy and Chairman of the Board at A2SEA.
DONG Energy and Siemens have owned A2SEA since 2009, where both companies needed to strengthen their position in the offshore market. However, the ownership of A2SEA is no longer in line with the company's core business, and the decision to sell is thus a natural consequence.
The Belgian company GeoSea works with complex marine technology projects and is owned by DEME Group, a world leader in highly specialized areas of ground protection, marine technology and environmental recovery.
"With the new owner, I'm sure the A2SEA will be in good hands. GeoSea will both contribute to A2SEA's continued stable operating performance and ensure a further positive development of the installation company. Based on A2SEA's leading industry expertise and strong results in installation, we expect A2SEA to continue to be an important supplier to DONG Energy's future projects. This is not changed by the transaction," says Thomas Dalsgaard.
The transaction, subject to approval by the authorities, is expected to be completed in the third quarter of 2017.
Source: DONG Energy / Maritime Denmark