Buyout firm to take Swissco OSV business private
Observers say there's more to gain than lose from taking the buyout offer; JM has other plans for listed entity
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Singapore
SWISSCO HOLDINGS' offshore support vessel (OSV) business will continue to operate out of Singapore, but as a privately-owned entity separate and distinct from the listed holding company.
The chairman of Asian Strategic Turnaround Ventures Pte Ltd, Hassan Basma, told The Business Times that a buyout firm has raised US$40 million as seed funding from its anchor investors primarily for the acquisition of Swissco's OSV business.
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