OHT to acquire the renewables business unit of Subsea 7.

OHT, a provider of shipping services, agreed to acquire the renewables business unit of Subsea 7, a subsea engineering, construction and services company serving the offshore energy industry. Financial terms were not disclosed. “This transaction represents an important next step in Subsea 7’s Energy Transition journey that will accelerate and enhance value creation for our shareholders. As a listed company with a comprehensive fleet and experienced management team, Seaway 7 ASA is positioned to forge an enhanced growth trajectory as a global leader in offshore wind. Subsea 7 looks forward to working closely with Seaway 7 as it launches this next exciting chapter in its evolution," John Evans, Subsea 7 CEO.