New owner for Xodus Group: Subsea 7 takes a majority stake in the Aberdeen firm

Xodus Group, the Aberdeen-based energy consultancy is now majority-owned by Subsea 7 following a deal struck between the two companies tonight.

Subsea 7, which is registered in Luxembourg but has its head office in London, has acquired 60% of the business, while existing shareholder Chiyoda Corporation, of Japan, keeps a 40% stake.

Yokohama-based Chiyoda snapped up a majority stake in Xodus five years ago.

Read more on Energy Voice here.