Prosafe SE: Sale of Safe Esbjerg
Prosafe Rigs Pte Ltd, a wholly owned subsidiary of Prosafe SE ("Prosafe"), has
today entered into an agreement to sell the accommodation jack-up Safe Esbjerg
to a buyer in South East Asia.
Total proceeds amount to USD 55 million and are divided into two tranches. USD
38.5 million is payable within 60 days after closing, which took place on 7
August. The remaining USD 16.5 million will be paid as a three-year term loan
with an interest rate of 10 per cent.
The divestment of the Safe Esbjerg is in line with Prosafe's strategy of
focusing on growth within the high end of the offshore accommodation industry.
Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 192.3 million in 2011.
The company operates globally, employs 550 people and is headquartered in
Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code
PRS. For more information, please refer to www.prosafe.com.
Larnaca, 7 August 2012
Georgina Georgiou, General Manager
For further information, please contact:
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Finance and IR Manager
Phone: +47 51 64 25 20
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.