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Stock impact report

Tidewater Announces the All-Cash Acquisition of Wilson Sons Ultratug Offshore

Tidewater Inc. (TDW) 
Last tidewater inc. earnings: 8/9 04:24 pm Check Earnings Report
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (“Tidewater”) today announced that it has entered into a definitive agreement to acquire all of the outstanding shares of Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, “WSUT”) at an enterprise value of approximately $500 million, including the assumption of WSUT’s existing debt (the “Transaction”).Strategic RationaleStrengthens Tidewater’s OSV position: WSUT’s fleet consists of 22 PSVs; pro forma for the Transaction, Tidewater will own a fleet of 213 OSVs, bringing Tidewater’s total global fleet size to 231 vessels, including crew boats, tug boats and maintenance vesselsEnhances Tidewater’s Brazilian presence: Expands Tidewater’s current fleet of 6 vessels in Brazil to a total of 28, providing meaningful scale and the operational capability required to support the continued growth of the Brazilian offshore energy marketEstablishes Tidewater as one of the main providers o Show less Read more
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