Neptune Marine Services’ shareholders have approved the acquisition of the company by MMA Offshore.
MMA will acquire Neptune business through the acquisition of its key operating subsidiaries.
This follows the approval of the transaction by the shareholders of MTQ Corporation of Singapore, the parent company of Blossomvale Investments, Neptune Marine Services’ controlling shareholder.
MMA Offshore announced its intention to acquire Neptune Marine Services, a provider of topside and subsea inspection, maintenance and repair solutions to the oil and gas, marine and renewable energy industries, in July.
Completion is expected to take place by early to mid-November 2019 subject to satisfaction of all remaining conditions precedent.