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SEAMEC LTD AND HAL OFFSHORE ANNOUNCE PROPOSED SCHEME OF ARRANGEMENT FOR BUSINESS CONSOLIDATION

Updated: June 27, 2025 17:54

Image Source: India Infoline

Seamec Ltd and HAL Offshore Ltd have disclosed a proposed Scheme of Arrangement, aiming to demerge HAL Offshore’s Marine, EPC, and ancillary businesses into Seamec Ltd. The move is designed to create a more synergistic and diversified entity in the marine and offshore services sector.
 
Key Highlights:
 
The Scheme of Arrangement will transfer all assets and liabilities of HAL Offshore’s EPC & Vessel Division to Seamec Ltd, consolidating the marine and vessel charter businesses under the listed entity.
 
The demerger is expected to result in significant business synergies, pooling of resources, and improved operational efficiency for both companies.
 
Seamec Ltd, currently a subsidiary of HAL Offshore, will become the primary vehicle for marine, vessel charter, and EPC activities, enabling diversification into more lucrative engineering, procurement, and construction (EPC) projects.
 
HAL Offshore is a leading provider of underwater and EPC services to the Indian oil and gas industry, with a track record in executing turnkey projects for major clients such as ONGC and Oil India Ltd.
 
The transaction is structured to ensure fair value for shareholders, with the consideration including both equity and non-cumulative redeemable preference shares in Seamec for HAL Offshore shareholders.
 
The arrangement is subject to approvals from stock exchanges, SEBI, shareholders, creditors, and the National Company Law Tribunal.
 
Management believes the consolidation will enhance margins, profitability, and long-term value creation, while enabling Seamec to scale up and diversify its business portfolio.
 
Source: Seamec Ltd, HAL Offshore, MNA Critique, Planify

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