Privately owned Scorpio Group has made a surprise raid on the offshore sector taking control of Herbjorn Hansson's Nordic American Offshore after investing $5m in a private placement.
Under the purchase, Emanuele Lauro steps in as chairman and chief executive officer of the struggling owner of offshore support vessels while Hansson departs the board of New York-listed NAO.
The deal also sees Robert Bugbee seated as president and Cameron Mackey as chief operating officer.
