Sembcorp Marine has completed the £30m acquisition of the intellectual property rights of Sevan Marine.
Sembcorp now owns the interests and titles to all of Sevan Marine’s intellectual property and a 95% equity interest in subsidiary HiLoad LNG.
The deal also gave the buyer responsibility for operating and associated costs, including unexpired leases, in maintaining Sevan Marine’s three office location and the transfer of 26 Sevan Marine employees.