Fugro completes trenching and cable laying division divestment

Fugro has finalised the divestment of its non-core trenching and cable laying business to Global Marine Group (GMG), a global, leading supplier of subsea cable installation and maintenance services.

GMG has acquired the business in exchange for an equity stake of around 24% in the combined business valued at US$ 65 million, and a one year secured vendor loan of US$ 7.5 million.

The divested activities will be deconsolidated as per 1 December 2017.

Fugro now participates in a more diversified business in which cable installation services are complemented with long-term telecom cable and windfarm maintenance services and sales of subsea telecom systems. In addition, Fugro is the preferred provider of marine site characterisation and asset integrity services to GMG.

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