Helix Energy Solutions Group Inc. (HLX) Monday closed the previously announced sale of its pipelay vessel, the Caesar, to Trevaskis Ltd. Cash proceeds of about $108 million of the total selling price of nearly $138 million were received at closing; the company previously received a $30 million cash deposit for this deal in October.
The sale of the company's remaining pipelay vessel, the Express, is expected to close in July 2013.
"The sale of the Caesar is another important milestone in our strategy to exit our non-core businesses while remaining focused on enhancing and expanding our core well intervention and robotics businesses," said Owen Kratz, chief executive officer of Helix.
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