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OHT and Subsea 7 join forces to target wind installation

Arne Blystad-owned OHT is merging with Subsea 7's renewables subdivision, Seaway 7. The transaction is valued at close USD 1 billion, according to Clarksons. Updated.

Torgeir Ramstad, CEO of OHT | Photo: OHT

Norwegian OHT is merging with British-based offshore company Subsea 7's renewables unit to pursue the growing market for the installation of offshore wind turbines.

With the new agreement, OHT, owned by Arne Blystad, merges with Subsea 7's renewables business to form a combined company that will go under the name Seaway 7 ASA, say the parties in an announcement Thursday.

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