Dutch geotechnical services provider Fugro expects to earn around $40 million from the sale of HC2 Holdings’ subsidiary Global Marine Group (GMG).
Fugro said on Thursday that it would monetize the remainder of its non-core 23.6% interest in GMG, which was expected to result in proceeds for Fugro of close to $40 million.
According to the company, GMG would be sold in its entirety via a definitive agreement, excluding GMG’s 49 percent joint venture with Huawei Marine Networks (HMN), to an investment affiliate of J.F. Lehman & Company (JFLCO) for a total base consideration of around $250 million in cash plus a potential future earn-out should JFLCO and its investment affiliates achieve a specified multiple of their invested capital.
Brazil Energy Insight 
Leave a comment