prosafe Safe Esbjerg accommodation rig

Prosafe Sells Hotel on Stilts for $55 Million

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August 7, 2012

Safe Esbjerg, image: Prosafe

Norway-based accommodation rig operator Prosafe, announced today that they will be selling their jack-up hotel, the Safe Esbjerg, to a buyer in South East Asia.

Total proceeds amount to USD 55 million and are divided into two tranches. USD 38.5 million is payable within 60 days after closing, which took place on 7 August. The remaining USD 16.5 million will be paid as a three-year term loan with an interest rate of 10 per cent.

The divestment of the Safe Esbjerg is in line with Prosafe’s strategy of focusing on growth within the high end of the offshore accommodation industry.


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