General – Acquisition
Infrastructure investor EIG entered into definitive agreements with Novonor and Brazilian Development Bank to acquire offshore service company Ocyan Participações for $390 million, EIG said in a Dec. 28 press release.
The deal includes $283 million for Novonor’s equity interests and the remainder to liquidate Ocyan’s non-voting securities.
The transaction’s proceeds related to Novonor’s equity interest will be directly paid to Brazilian development bank BNDESPAR to settle a portion of Novonor’s debt.
