Tidewater Inc. (NYSE: TDW) on Friday announced the completion of its acquisition of Swire Pacific Offshore Holdings Limited (SPO), a subsidiary of Swire Pacific Limited (HKSE: 0019.HK and 0087.HK), effective April 22, 2022.
The completion of the SPO acquisition adds 50 vessels to the fleet and creates the world’s leading OSV operator.
Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “We are pleased to announce the closing of this acquisition and we are excited to welcome our new employees and customers to Tidewater. This acquisition marks the completion of another important milestone in the strengthening of Tidewater’s leadership position in the OSV industry as we capitalize on the recovery of the offshore vessel market.”