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Swissco shareholders approve plan to acquire Scott and English Energy

Shareholders of Singapore Exchange (SGX) mainboard-listed Swissco Holdings have approved a plan by the company to acquire rig owner Scott and English Energy.

SINGAPORE: Shareholders of Singapore Exchange (SGX) mainboard-listed Swissco Holdings have approved a plan by the company to acquire rig owner Scott and English Energy.

The acquisition, first announced in March, is worth about S$285 million. Swissco is a marine service provider for the shipping and offshore oil and gas industries. The deal is expected to help diversify its earnings and provide opportunities in other related activities in the offshore marine space.

Scott and English Energy owns and leases mobile offshore drilling units and service rigs.The acquisition is expected to be completed on July 30.

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