Brief: Reach Subsea Acquires Geophysical Monitoring Solutions Provider

Reach Subsea ASA

08/12/2021 10:01

Dec 8 (Reuters) - Reach Subsea ASA  REACH.OL :
    * REACH SUBSEA ASA: ACQUISITION OF GEOPHYSICAL MONITORING
SOLUTIONS PROVIDER
    * TRANSACTION IS EXPECTED TO CLOSE IN Q4 OF 2021.
    * AS PART OF TRANSACTION, CERTAIN OCTIO EMPLOYEES WILL
SUBSCRIBE
FOR  974,700  NEW SHARES IN REACH AT NOK 3 PER SHARE
    * HAS ENTERED AN AGREEMENT WITH EQUINOR VENTURES AS TO
ACQUIRE
OCTIO AS, A PROVIDER OF MONITORING SOLUTIONS FOR HYDROCARBON
PRODUCING FIELDS AND CO2 STORAGE RESERVOIRS
    * REACH SUBSEA WILL ACQUIRE EQUINOR'S INTERESTS IN
BERGEN-BASED
OCTIO, AS WELL AS ASSOCIATED COMPANY MONVIRO AS, OWNED BY OCTIO
EMPLOYEES

Source text for Eikon:  ID:nObiqbyR8a 
Further company coverage:  REACH.OL 

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