Siem companies give up on deal with cable business

The negotiations between Siem Offshore and Subsea 7 regarding a deal with Siem Offshore Contractors have ended with nothing to show for it. Norwegian shipping magnate Kristian Siem has stakes in both companies.

Photo: MPA

The two Norwegian offshore companies Siem Offshore and Subsea 7 have given up trying to reach a deal with the former's cable business.

For a long time, Siem Offshore has attempted to divest of the company Siem Offshore Contractors, which installs and repairs underwater cables for offshore platforms.

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