Helix Energy Solutions Group Inc. is unloading another big chunk of shares in subsidiary Cal Dive International Inc.
The Houston offshore energy company is offering the remainder of its interest in the company — 20.6 million shares of Houston-based Cal Dive stock — to the public. The offering includes an option for underwriters to purchase an additional 3.1 million shares to cover over-allotments.
In June, Helix began cutting its majority stake in Cal Dive to 25 percent from 51 percent by offering 22.6 million shares for sale.
The new offering would eliminate Helix’s ownership interest in Cal Dive.
Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are acting as joint book-running managers and Capital One Southcoast Inc. and Natixis Bleichroeder Inc. are acting as co-managers for the offering.