Singapore’s Labroy Marine Buys Norway’s Master Marine Share

Labroy Marine Ltd said it has agreed to buy a 16.52 pct stake in Norway’s Master Marine for 27 mln sgd, equivalent to 109.08 mln nkr or 12.50 nkr per Master Marine share.
Master Marine, a customer of Labroy Marine, provides marine services including the lifting of heavy structures, transportation and mating of oil exploration platform topsides to substructures, the company said.
Founded in 1978, Labroy is a dynamic and fast-growing marine construction and engineering group with core businesses in shipbuilding, repair, offshore rig construction and shipping. Labroy has a large and diversified fleet of more than 180 vessels, complemented by two full-service shipyards in Batam, Indonesia.
The Company has been listed on the Singapore Exchange since 1996. In February 2007, Labroy was included as a component stock of the Singapore Straits Times Index (“STI”) which now employs more than 7,000 personnel.

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