Pacific Radiance transferring Mexican ops and assets to JV

Singapore

OFFSHORE marine services provider Pacific Radiance is transferring its key operations and assets in Mexico to a joint venture (JV) with a private equity firm vehicle, in a move that the firm says will sharpen its overall competitive edge in the Gulf of Mexico.

The joint venture, Navigatis Radiance Pte Ltd, is 51 per cent indirectly owned by Pacific Radiance.