GC Rieber Shipping will become the latest maritime operation to delist from the Oslo Stock Exchange.
Norway’s Rieber family has succeeded with an offer to take full control of the offshore wind farm vessel owner and will take the company private.
The offer for the remaining stock was launched earlier in November as holding company GC Rieber sought to build its stake from 77%.
This offer has now closed, with GC Rieber on 97.97%.
GC Rieber is paying NOK 8.80 per share, against a price of NOK 4.91 in Oslo when the deal was announced.
The market cap was NOK 423m ($38.1m).
The family will now launch a compulsory offer to mop up the remaining shares.
Singapore’s BW Group is delisting two companies in Oslo: the LPG carrier owner BW Epic Kosan and the offshore floating power operation BW Ideol.
Others such as Hafnia, Okeanis Eco Tankers and BW LPG are applying for a second listing in New York.
In the case of Okeanis, this will be its primary listing.
Big plans in offshore wind
The majority of the private shareholders of parent GC Rieber are fourth and fifth-generation members of the family of founder Gottlieb Christian Rieber.
TradeWinds reported in June that the shipping subsidiary was planning further growth for its new wind shipping venture Windkeeper.
The company has two firm service operation vessels being built at Turkey’s Cemre Shipyard, with two options attached.
GC Rieber used to be a seismic survey ship owner, but today has only a tug and a crew boat operational.
Earlier this year, GC Rieber said it was handing over a $51m stake in its seismic survey vessel spin-off to investors.
Shareholders were to receive shares totalling 8.5% in seismic survey shipowner Shearwater GeoServices as an extraordinary dividend.
The company had 5m shares in Shearwater, which has been preparing for an IPO in Oslo.