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Sevan Marine enters into strategic agreement with Technip regarding KANFA


Published Apr 7, 2014
Sevan Marine ASA

Sevan Marine ASA has on April 3rd entered into an agreement with Technip Norge AS, a wholly owned subsidiary of Technip S.A, regarding the sale of 49.0% of the shareholding in KANFA AS. The parties have agreed not to disclose the purchase price at this point in time. Upon completion of the transaction, Sevan Marine will own 51.0% of KANFA AS and Technip will own 49.0%. The parties intend to further enhance KANFA's development opportunities and expand the business.

KANFA, with its subsidiaries KANFA Ingenium Process AS (54.3% owned subsidiary) and KANFA Mator AS (wholly owned subsidiary), is a leading independent topside and process technology specialist with activities primarily in the offshore oil and gas industry. In total, the KANFA Group employs approximately 50 highly skilled engineers.

Tags: Sevan Marine ASA, Technip Norge AS




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