BTG, Deep Sea Supply Launch $852M Oil Support Ship JV

Law360, New York (January 23, 2013, 6:25 PM EST) -- Brazilian investment bank BTG Pactual has formed an $852 million joint venture with offshore supply vessel king Deep Sea Supply PLC that will own, operate and finance more than 20 ships to serve Brazil's burgeoning oil and gas industry, the parties announced last week.

The joint venture gives BTG Pactual Oil & Gas Participacoes SA a 50-percent stake in two DESS units that control a mix of 15 platform supply and anchor handling tug and supply vessels, with six more ships under construction in China and...
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