Seacor Holdings has become the sole owner of its consolidated Sea-Vista joint venture, acquiring through a subsidiary the 49 per cent interest that had been owned by an affiliate of Avista Capital Partners.
The purchase consideration consisted of US$106 million in cash and 1,500,000 shares of the company's common stock.
The acquisition by Seacor also covers Sea-Vista's fleet of nine US-flagged Jones Act-compliant petroleum and chemical carriers, all of which operate under the Seabulk name.