-- Helix Energy Solutions Group (HLX) said Monday it sold its Gulf-focused Shallow Water Abandonment business to C-Dive for $107.5 million in cash, subject to adjustments.
The company said the deal, signed and closed May 1, follows its agreement with Hornbeck Offshore Services to combine and expand its offshore fleet and capabilities.
Helix said the divestiture supports its shift toward deepwater operations, where the combined company aims to provide integrated subsea and marine transportation services across energy, defense and renewables.
Shares of Helix Energy were up more than 1% in premarket activity Monday.