# SED & VTURA Creating Superior Returns In The Energy Industry (11 September 2026)

- Press release: Energy Holdings and Ventura Offshore to combine, creating a larger platform for cash generation, shareholder distributions and growth (2026-09-11)
- Original: https://storage.mfn.se/45f1fb2d-ed75-46ce-acef-815b948670fc/sed-and-vtura-creating-superior-returns-in-the-energy-industry-11-september-2026.pdf
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** SED Energy Holdings Plc and Ventura Offshore Holding Ltd. are merging in an all-share transaction to create a larger, more diversified offshore services platform with an implied market capitalization of $1 billion and a combined backlog of $1.3 billion, aiming for enhanced cash generation and shareholder distributions.

## Takeaways
- The combined entity will have an implied pro forma market capitalization of ~$1.0 billion.
- The firm revenue backlog for the combined company is ~$1.3 billion, extending beyond 2029.
- Ventura Offshore shareholders will receive 605 million Consideration Shares, representing 45% of Energy Holdings post-closing.
- The combined fleet will consist of 13 offshore units (owned, leased, or managed), including 5 ultra-deepwater rigs, 4 tender barges, and 2 seismic vessels.
- The transaction is expected to close in Q1 2027, subject to various approvals and conditions.
- Illustrative free cash flow per share ranges from NOK 1.4 to NOK 2.6, representing a yield of 19% to 36% based on various day rate scenarios.

*Generated 2026-09-13 via google/gemini-2.5-flash*