Seaway-Aimery Ship Details and Seafarer Feedback

Siem Offshore Inc. has announced a significant move in the maritime sector by reaching an agreement to divest its entire stake in Siem Offshore Contractors GmbH (SOC) to a subsidiary of Subsea 7 S.A., pending approval from German competition authorities. In addition to the share transfer, the deal also encompasses the sale of two vessels: the cable lay vessel Siem Aimery and the innovative walk-to-work vessel Siem Moxie, both of which will be integrated into the Subsea 7 Group. The initial valuation of the transaction stands at €140 million, broken down into €90 million for the vessels and €50 million for SOC shares, subject to standard adjustments concerning net cash and working capital. Moreover, Siem Offshore stands to benefit from contingent consideration tied to SOC’s operational volume from 2019 until the close of 2024, with estimated additional earnings ranging between €25 million and €40 million during this timeframe. This strategic decision underscores Siem Offshore's commitment to optimizing its portfolio while enhancing collaborative synergies with Subsea 7.

On April 27, 2016, a significant milestone was achieved as the cable lay vessel, Siem Aimery, was officially christened in a special ceremony at the Remontowa Shipbuilding yard located in Gdansk, Poland. The event was graced by the presence of Mrs. Karin Muck, who served as the Godmother of this state-of-the-art vessel, representing her husband, Mr. Lars Muck, the Business Area Manager of Siem Offshore Contractors. With its addition to the Siem Offshore fleet, the Siem Aimery is set to enhance the company's capabilities in the maritime industry.