Global Marine Group to acquire Fugro's trenching and cable lay business

Global Marine Group, an HC2 Holdings subsidiary, has agreed to acquire Fugro's trenching and cable lay services business for approximately $73 million, consisting of a 23.6% equity interest in Global Marine Holdings LLC valued at $65 million and a $7.5 million vendor loan. The acquisition was announced on October 12, 2017.

“The combination of Global Marine Group and Fugro’s trenching and cable laying business will create an even more effective operating platform for delivering services to customers and value to shareholders.”globenewswire.com

• 1 source
• globenewswire.comHC2 Portfolio Company Global Marine Group to AcquireINNOVATE Corp.Oct 12, 2017

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