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Investing.com -- Shares of DEME climbed 5% today after the company announced its plans to acquire Norwegian offshore wind infrastructure firm Havfram for €900 million.
The move is aimed at bolstering DEME's position in turbine and foundation installation within the burgeoning offshore wind sector.
The strategic acquisition is expected to strengthen DEME's competitive edge by adding two next-generation wind turbine installation vessels, which are slated for delivery in the fourth quarter of 2025 and early 2026, respectively.
These vessels are already contracted for the second half of 2026. Havfram, which is currently under the ownership of Sandbrook Capital and PSP Investments, brings to the table an existing order book of approximately €600 million.
This addition will augment DEME's Offshore Energy order book by 16%, with contracts related to the construction of some of the world's largest offshore wind farms planned for the 2026-2030 period.
Headquartered in Oslo and employing around 50 people, Havfram's integration into DEME is anticipated to close by the end of April 2025.
This acquisition is viewed by industry analysts as a significant step for DEME in the global energy transition. "The acquisition underscores DEME's belief in the immense potential of offshore wind infrastructure in the global energy transition," analysts at Jefferies remarked.
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