Shareholders of MMA Offshore voted overwhelmingly in favour of a takeover bid from Singapore’s Cyan Renewables.
A full 92.3% of votes by 65.2% of MMA shareholders were cast in favour of the deal, the Australian-listed offshore energy maintenance contractor said in a statement to the Australian Securities Exchange on Monday.
With approval granted, MMA will submit the scheme of approval to the Federal Court of Australia for the final go-ahead at a hearing scheduled for Wednesday 10 July.
