Helix Energy Solutions to Acquire Alliance Companies in Gulf of Mexico for USD 120m.

MANews-(C)2009-2022

Houston, US-based offshore energy services company Helix Energy Solutions Group, Inc. (NYSE: HLX) has agreed to acquire 100% of the equity interests of the Louisiana-based Alliance group of companies for USD 120m cash at closing, the company said.

The purchase price includes the potential for post-closing earnout consideration payable in 2024, in the event the Alliance business achieves certain financial metrics in 2022 and 2023. The acquisition is expected to close mid-2022 and is subject to regulatory approvals and other customary conditions.

The expanded decommissioning presence represents a step for Helix's Energy Transition business model.

Alliance is a Louisiana-based privately held company...

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