{"id":118248,"date":"2024-06-17T12:39:54","date_gmt":"2024-06-17T11:39:54","guid":{"rendered":"https:\/\/abl-group.com\/abl\/?p=118248"},"modified":"2024-06-17T12:51:56","modified_gmt":"2024-06-17T11:51:56","slug":"abl-group-asa-acquisition-of-ross-offshore-completed","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/abl-group-asa-acquisition-of-ross-offshore-completed\/","title":{"rendered":"ABL Group ASA: Acquisition of Ross Offshore completed"},"content":{"rendered":"\n<p><strong>Reference is made to the <\/strong><a href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/abl-group-to-acquire-ross-offshore\/\"><strong>stock exchange announcement<\/strong><\/a><strong> dated 15 May 2024 regarding the planned acquisition of 100 percent of the shares of specialist energy consultancy Ross Offshore. ABL Group has today successfully completed the transaction.<\/strong><\/p>\n\n\n\n<p>Ross Offshore will now merge with ABL Group company <a href=\"https:\/\/agr.com\">AGR<\/a>, thereby expanding and further strengthening the group\u2019s service offering in wells, reservoirs, and marine &amp; survey management.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"800\" src=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1.jpg\" alt=\"Reuben Segal\" class=\"wp-image-117540\" style=\"width:186px;height:auto\" srcset=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1.jpg 800w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1-300x300.jpg 300w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1-150x150.jpg 150w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1-768x768.jpg 768w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/04\/Reuben-Segal-1-600x600.jpg 600w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/div>\n\n\n<p>&#8220;We are glad to welcome everyone in Ross Offshore to the ABL Group family and we will be working in the coming months on bringing them under the AGR brand. As a result of becoming one team with AGR, the Ross Offshore and AGR united team has more than 500 knowledge heavy professionals working on behalf of the client base. Ross Offshore also brings new locations to our Group presence in Norway &#8211; Bergen and Sandefjord in addition to our offices in Stavanger, Oslo and Troms\u00f8.&#8221;<\/p>\n<cite>Reuben Segal, CEO of ABL Group<\/cite><\/blockquote>\n\n\n\n<p>The transaction to acquire 100 percent of the shares in Ross Offshore has been settled in cash, utilising ABL Group\u2019s existing cash holdings and undrawn credit facilities. The transaction values Ross Offshore at NOK 100 million (equivalent to USD 9.3 million at current FX rates) on a cash and debt free basis, based on locked box accounts as of 31 December 2023.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em>Discover Ross Offshore and learn more about their technical and engineering expertise in wells, subsurface, technical resourcing and marine operations: <\/em><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-teal-background-color has-background wp-element-button\" href=\"https:\/\/rossoffshore.no\/services\/\">Ross Offshore<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reference is made to the stock exchange announcement dated 15 May 2024 regarding the planned acquisition of 100 percent of the shares of specialist energy consultancy Ross Offshore. ABL Group has today successfully completed the transaction. Ross Offshore will now merge with ABL Group company AGR, thereby expanding and further strengthening the group\u2019s service offering [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":118249,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[977,105,4],"tags":[],"sector":[842,833,107,106,841],"service":[718,709,827],"company":[948],"class_list":["post-118248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-977","category-investor-news","category-news","sector-midstream","sector-offshore-wind","sector-oil-gas","sector-renewables","sector-upstream","service-surveys-inspections-audits","service-marine-warranty-survey","service-rig-inspections","company-agr"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ABL Group ASA: Acquisition of Ross Offshore completed - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/abl-group-asa-acquisition-of-ross-offshore-completed\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABL Group ASA: Acquisition of Ross Offshore completed\" \/>\n<meta property=\"og:description\" content=\"Reference is made to the stock exchange announcement dated 15 May 2024 regarding the planned acquisition of 100 percent of the shares of specialist energy consultancy Ross Offshore. 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