General – Acquisition
Kotug entered into an agreement to acquire Seaways International, owner and operator of Offshore Support Vessels providing offshore marine services to the global energy industry.
The intended acquisition of Seaways marks the largest in Kotug’s history and is part of the company’s strategy to expand its business in assisting worldwide floating facilities such as FSO, FPSO, FLNG, FSRU and SPM Terminals.
Seaways owns and operates a fleet that comprises of DPS-2 capability AHT’s, Fast Crew Suppliers (Crew Boats for Passenger Transportation) and Cargo Barges, and also provides terminal management services.
Headquartered in Dubai, the family-owned company has a primary focus on West Africa.
The acquisition is expected to be completed in the second half of 2022 – both companies will now work on customary governmental and other approvals, with the aim of completing the transaction within July 2022.