Australian OSV owner MMA Offshore is spending AUD 18.5m ($12.89m) to take over a domestic subsea services company.
It is buying the operating subsidiaries of ASX-listed Neptune Marine Services (NMS) for AUD 5m in cash plus AUD 13.5m of MMA shares.
NMS is a provider of inspection, maintenance and repair solutions to the oil and gas, marine and renewable energy industries with operations in Australia, South East Asia, and the UK.
