Swissco sells sizeable chunk of offshore support vessels division
The disposals by judicial managers of the troubled marine group are expected to help reduce its liabilities
Singapore
THE Judicial managers of marine company Swissco Holdings are disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.
Six of Swissco's wholly-owned subsidiaries - namely Swissco International (SIPL), Swissco Maritime (SMPL), Swissco Ship Services (SSSPL), Swissco Asia (SAPL), Singapore Marine Logistics (SM LOG) and Swissco Offshore (SOPL) - entered into a master sale and purchase agreement with Allianz Middle East Inc on Dec 6.
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