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
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Nisha Ramchandani
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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