Singapore: Sharjah-headquarted offshore specialist Atlantic Navigation Holdings, has entered into an agreement with the shareholders of Malaysia’s Astana Riang to acquire a 40% stake in Astra Offshore for $500,000.
Astra is a Petronas-licensed supplier of products and services, including chartering services, and has also been a sole representative for Atlantic Navigation in Malaysia since November 2014.
Astana Riang will keep a controlling 60% equity in Astra Offshore.
Atlantic Navigation has a fleet of 14 offshore vessels, 2 jointly-owned vessels, while also performing third-party management.
