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Bergen Group rig service sale falls through

Energy Voice

Bergen Group said the sale of the company’s rig-service activity has fallen through.

Last month, the company had signed a deal with Semco Maritime for the operational activity at the Hanotangen yard and with Hellick Teigen for the real estate there.

The deal was planned to close by April 30.

However the company said despite dialogue between the sellers and buyers the deal has not been completed in time.

The share purchase agreement has now been terminated with both companies and Bergen has now received a full subscribed loan on $32.9million.

Magnus Stangeland, Bergen Group’s chairman of the board of directors, said: “It is regrettable that we have not been able to conclude with two parties that we have worked with over many years. Nevertheless, Bergen Group has found it necessary to terminate the agreements and then establish an alternative solution that provides a required clarification for the group’s financial situation within the deadlines we deemed decisive for the group.”

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