A Review of the Nigerian Energy Industry

SBM in $58m property sale gain

The Netherlands SBM Offshore29 August 2014, News Wires – SBM Offshore has bagged another $58 million after completing the sale and leaseback of its property portfolio in Monaco.

The floater giant offloaded its third property in the principality for $62 million, net of expenses, it said on Friday.

This will see make a book profit of $58 million, with a total book profit of approximately $88 million from the three properties now sold and leased back.

In December the company revealed it had sold and leased back two properties for in excess of $100 million, booking a profit of around $30 million.

In total the company offloaded 10,000 square metres of property in Monaco.



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