Acquisition Alert

Singapore listed offshore support company Swissco could be acquired by C2O Holdings. C20 Holdings has agreed to acquire 54.75% of the total issued shares of Swissco from its controlling shareholder, Yeo Holdings Private Limited as part of its plans to take full control of the company. The offer price of SGD 0.89 is a 22% premium over the company’s net tangible asset value of SGD 0.73. Based in Singapore, Swissco provides marine services to the shipping and offshore oil and gas industries. The group owns, operates and charter offshore support vessels, out-port-limit boats, tugs and barges in support of its customers’ marine logistic needs.

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