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BRIEF-HC2 HOLDINGS SAYS ITS UNIT TO ACQUIRE ONE OF FUGRO N.V.'S BUSINESSES
October 12, 2017 / 11:25 AM / 2 months ago

BRIEF-HC2 HOLDINGS SAYS ITS UNIT TO ACQUIRE ONE OF FUGRO N.V.'S BUSINESSES

Oct 12 (Reuters) - HC2 Holdings Inc:

* HC2 PORTFOLIO COMPANY GLOBAL MARINE GROUP TO ACQUIRE FUGRO’S TRENCHING AND CABLE LAYING BUSINESS

* HC2 HOLDINGS INC - DEAL FOR ‍APPROXIMATELY $73 MILLION​

* HC2 HOLDINGS-DEAL ‍CONSISTS OF ISSUANCE TO A UNIT OF FUGRO OF A 23.6% EQUITY INTEREST IN GLOBAL MARINE HOLDINGS VALUED AT $65 MILLION​

* HC2 HOLDINGS INC - ‍ACQUISITION, WHICH GMG BELIEVES WILL BE ACCRETIVE

* HC2 HOLDINGS INC - DEAL INCLUDES ‍AN OBLIGATION OF GMSL TO PAY FUGRO $7.5 MILLION WITHIN ONE YEAR PURSUANT TO A SECURED VENDOR LOAN​

* HC2 HOLDINGS INC - ‍AS PART OF TRANSACTION, FUGRO WILL BECOME PREFERRED PROVIDER OF MARINE SITE CHARACTERIZATION AND ASSET INTEGRITY SERVICES TO GMG​ Source text for Eikon: Further company coverage:

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