Mermaid Maritime Vietnam Changes Hands

Mermaid Maritime Vietnam has been taken over by its own previous owner and current CEO Jorgen Lundbaek and Tommy Hansen, currently General Manager of Mermaid Safety Services Ltd.
The change of ownership follows Jorgen Lundbaek’s selling of his shares in the Mermaid Maritime Group to Thoresen Thai Agencies in October for reportedly 234 million baht.
“Before the transaction Thoresen had 63% of the share in Mermaid Maritime,” Jorgen Lundbaek told ScandAsia about his business transaction and continued “Now it has become the major shareholder of the company with 80% totally.”
“Even though I have sold out my shares, I am still working as a CEO of the company,” he added.
It was part of the deal that Jorgen Lundbaek and the current MD of Mermaid Maritime Tommy Hansen should be given the opportunity after the sale to buy back the company in Vietnam, Mermaid Maritime Vietnam, from Thoresen Thai Agencies. This transaction was finalized by the end of November 2006.
Asked for the price of buying back the shares in the company in Vietnam, Jorgen Lundbaek just stated that: “It was a good and reasonable price!”
The opening ceremony of the new workshop and service facilities, which have been set up in Vung Tau in the south of Ho Chi Minh City, was held on October 11 with the participants from business affiliates and local Vietnamese authorities and the Danish ambassador to Vietnam.

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