Funds managed by affiliates of Apollo have plans to acquire a majority stake in OEG Energy Group, an offshore energy solutions business, from funds managed by the Power Opportunities strategy of Oaktree Capital Management and other investors. The transaction implies a headline valuation of more than $1 billion for OEG, and Oaktree and others will retain a minority equity interest in the company.
OEG is a scaled provider of core services across the offshore energy ecosystem, delivering development and operations solutions to oil and gas as well as wind end markets for more than 50 years. The company owns and operates one of the world’s largest fleets of cargo carrying units with more than 75,000 units, enabling the safe transportation of essential cargo to and from offshore energy installations.
OEG’s Renewables segment is a global, integrated provider of key technical solutions and services to the offshore wind sector.
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