Great Offshore, which provides integrated offshore services, has acquired Andhra Pradesh-based companies KEI-RSOS Maritime and Rajmahendri Shipping and Oilfield Services for Rs 160 crore. The company has completed all procedural formalities and acquired 100 per cent equity stake in two companies.
KEI-RSOS Maritime and Rajmahendri Shipping and Oilfield Services are in the maritime services business providing offshore support, single point mooring operations and port management services. The companies have a strong presence on the East Coast of India.
The decision to acquire an existing running business is with a view to broad base earnings without diversifying core business risks and ensuring sustainable cash flows and earnings. Earlier in July, KEI received a contract for providing comprehensive marine operations services for the
Company Name | CMP |
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Shipping Corpn. | 209.50 |
GE Shipping | 1005.25 |
Dredging Corp | 824.00 |
Shreyas Shipping | 285.45 |
Seamec | 1055.00 |
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