May 19 - Hochtief has finalised the sale of its offshore assets to DEME Group subsidiary GeoSea.
GeoSea has acquired all of Hochtief's installation vessels and pontoons, including the jack-up vessels, Innovation and Thor; and the pontoons, Wismar, Bremen and Stalsund. The jack-up vessel Vidar will be transferred upon completion of a current project.
GeoSea also takes over some obligations in regard to personnel.
Hochtief ceo Marcelino Fernandez Verdes commented: "We remain very focused on the infrastructure sector in Europe, in particular on the expansion and refurbishment of transportation infrastructure where we see great demand growth in coming years."
The jack-up vessel Installation is included in the sale.