Seacor Holdings Inc., which provides offshore services to the oil industry, and drilling contractor Nabors Industries Ltd. said Friday they plan to form a company that will own and operate a fleet of offshore support vessels.
Sea Mar Offshore LLC will manage 19 U.S. ships and one foreign flag vessel. The ships are currently owned by a Nabors affiliate.
A unit of Seacor will be the majority owner of Sea Mar Offshore.
The deal is expected to close around July 13.
Questions or comments about this story should be directed to the Financial News desk of The Associated Press at 212-621-7190.
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