Hawaiki has sold Hawaiki Submarine Cable To BW Group
SINGAPORE / AUCKLAND – July 26, 2021 — Hawaiki Submarine Cable Limited Partnership and International Connectivity Services Limited (“Hawaiki”) has today announced the sale of 100 per cent of the shares of the company to BW Digital Pte. Ltd., an affiliate of BW Group Limited, for an undisclosed price.
Rémi Galasso, executive chairman of Hawaiki, said: “We are delighted to welcome BW Group as a shareholder. Having established a successful subsea cable business with the support of our customers and partners, the company started a process to find a new long-term shareholder who is able to take the company to the next stage of development. BW has an excellent track record of growth in maritime and technology-related assets, combined with the highest standards of governance and strong access to capital through relationships with leading global banks and through the capital markets. Three years after Hawaiki’s commercial launch, it is time to write a new chapter of the company’s history and we believe BW is an ideal shareholder for this fast-growing business.”
Andreas Sohmen-Pao, executive chairman of BW Group, said: “We are excited to be making this investment in Hawaiki’s outstanding platform and team. BW Group has a deep heritage in maritime connectivity and infrastructure, with assets spanning production, transportation and distribution. Our strategy is to help connect countries across the oceans while working to reduce our environmental impact, including recent investments into wind installation vessels, floating wind, batteries, solar and other sustainable technologies. Hawaiki is a great fit and we are pleased to be able to support the team in their next phase of development”.
The current Hawaiki team will continue to manage the business, and the transaction is subject only to applicable regulatory filings and approval.
Headquartered in Auckland – New Zealand, Hawaiki is a network of submarine cable systems linking Australia, New Zealand, American Samoa, Hawaii and Oregon, on the U.S. West Coast. Being carrier-neutral and independently owned, it offers many service and cost benefits for content and cloud service providers, Telcos, ISPs, and others. For more information, visit hawaikicable.co.nz or connect with Hawaiki on Twitter and LinkedIn.
About BW Group
BW Group is a leading global maritime company involved in shipping, maritime infrastructure, and new sustainable technologies. Founded in 1955, BW controls a fleet of over 400 vessels and other floating assets, including oil production, gas import terminals, wind-farm installation, and sustainability-linked investments in solar, batteries, biofuels and water treatment. BW has nine publically listed affiliates on the Oslo and New York Stock Exchanges, and the group’s main operating centre is in Singapore. For more information, visit bw-group.com.