Singapore: MTQ Corporation has announced that subsidiary Blossomvale now holds a 50.02% stake in Neptune Marine Services, making it a subsidiary of the company.
This follows the receipt of valid acceptances from Neptune shareholders following the takeover bid launched early November amounting to 299,301,280 shares, while MTQ has also acquired 256,922,574 Neptune shares on the open market.
Perth based Neptune’s primary focus is the offshore oil and gas sector where it offers a range of subsea services.
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