Wilhelmsen increases ownership in NorSea to 99%

Wilhelmsen acquired an additional 24% of shares in NorSea to secure 99% ownership of the Norwegian supply base company.

NorSea, a provider of logistics services to the offshore industry for more than 60 years,first welcomed Wilhelmsen as one of the owners in 2012. The latest transaction increases Wilhelmsen’s shareholding from 75% to 99%.

Today’s announced increased shareholding was a purchase option that was agreed in 2017 with a set price at $53.3m.

Former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have each sold their shareholdings of circa 12%, with NorSea employees retaining the remaining 1% of shares.