October 16 - International construction group Hochtief is selling its offshore assets to marine contractor and long-term partner, GeoSea.
GeoSea, the marine engineering arm of DEME, will acquire full ownership of the heavy lift jack-up vessel Innovation - one of the largest vessels of its type in the marine construction business.
Luc Vandenbulcke, managing director of GeoSea, commented: "Both market expectations and order book require continuous investments. This transaction is a significant contribution to expand GeoSea's activities in the European offshore wind market."
The sale is subject to certain customary conditions including regulatory approvals.