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Sat September 19 2020

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Hochtief sells its offshore assets

16 Oct 14 Hochtief Europe is carrying out further streamlining by disposing of its offshore assets.

They are being sold to marine contractor and long-term partner GeoSea. The Belgian company is acquiring all of Hochtief‘s jack-up vessels and work pontoons, including taking full ownership of the heavy-lift jack-up vessel ‘Innovation‘, one of the largest in the marine construction industry.

Marcelino Fernández Verdes, CEO of Hochtief, said: "In recent years, we have developed into a leading provider in the offshore wind market in Germany. However, the company’s focus has recently been shifted. GeoSea operates in various offshore segments and will use our resources and our know-how for further growth."

The sale is subject to certain conditions including regulatory approvals.

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