EUROPE

Private equity sees subsea blue sky

NORWEGIAN private equity firm HitecVision is shrugging off the ongoing pessimism around the North Sea and is investing $US150 million ($A190 million) in a new subsea engineering firm it wants to build into a major new business.

Haydn Black

Underwater Integrity Solutions will be run from Aberdeen, but will also target work in the Gulf of Mexico from a base in Houston, Texas. HitecVision has made the investment in the face of predictions...

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