SBM Offshore agrees sale of GustoMSC to Parcom Capital

Marketwired

SCHIEDAM, THE NETHERLANDS--(Marketwire - Nov 12, 2012) - GustoMSC sold to Parcom Capitalas part of divestment program of non-core assets

SBM Offshore N.V. has agreed to the sale and transfer of GustoMSC, toParcomCapital, a private equity group, for a consideration of approximately US$185million. The purchase price will be paid in cash at closing. The sale is afirststep in the divestment program for non-core assets of approximately US$ 400million that the Company announced in August of 2012.

Bruno Chabas, CEO of SBM Offshore said:

"We are pleased to have reached an agreement with Parcom to sell GustoMSC.Parcom is in a good position to achieve, jointly with GustoMSC'smanagement, thebusiness's potential. This transaction allows SBM Offshore to releasesubstantial capital and focus exclusively on FPSOs, and associated productsandservices, in line with strategy. I wish GustoMSC and its employees all goodfortune for the future."

Piet-Hein de Jager, partner at Parcom Capital, said: "We are delighted withtheacquisition of GustoMSC. GustoMSC has an outstanding reputation, is wellpositioned to achieve further growth in the global offshore market and isanexcellent addition to our portfolio of investments. We are keen to furtherdevelop the business of the company, working closely with management, theemployees, and also the customers."

Nils van Nood, Managing Director of GustoMSC comments: "We are very pleasedtohave Parcom on board as a strong shareholder and as partner that shares ourambitions. With their support and value-added sector expertise, we arefullyconfident that we can continue to further develop our market position asreputable and independent designer of mobile offshore units. This newownershipenables us, our clients and other business partners to continue ourbusiness asusual"

GustoMSC, rooted in 1862, is a leading company for supply of proprietarydesignsof mobile offshore units and for delivery of associated equipment. GustoMSCprovides solutions that are aimed at the offshore exploration, constructionandproduction markets. The proprietary designs include jack-ups,semi-submersiblesand mono-hull vessels.

The parties have signed a purchase agreement, subject to financing, andintendclosing the transaction by 30 November 2012. The transaction was concludedonterms customary for a transaction of this nature and the GustoMSC workscouncilrendered a positive advice on the transaction.

To see the complete version of this press release, please click on thelinkbelow.

SBM Offshore Press Release:http://hugin.info/130754/R/1656911/535792.pdf

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SBM Offshore N.V. via Thomson Reuters ONE

[HUG#1656911]

Contact:
For further information, please contact:

SBM Offshore
Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer
Telephone: (+377) 92 05 85 15
Mobile: (+33) 643 919 312
E-mail: Email Contact
Website: www.sbmoffshore.com

Media Relations
Anne Guerin-Moens
Group Communications Director
Telephone: (+377) 92 05 30 83
Mobile: (+377) 680 863 691
E-mail: Email Contact
Website: www.sbmoffshore.com

GustoMSC
Nils van Nood
Managing Director
Telephone: (+31) 10 232 0434
E-mail: Email Contact
Website: www.gustomsc.com

Parcom Capital
Piet-Hein de Jager
Partner
E-mail: Email Contact
Website: www.parcomcapital.com

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