Asia
Swiber completes buyout of engineering firm
Singapore: Offshore player Swiber Holdings has via its wholly-owned subsidiary, Newcruz International, taken the remaining 20% equity interest in Pape Engineering for US$200,000. Pape became a Newcruz subsidiary. However, under an internal restructuring exercise Newcruz has transferred the entire equity interest in Pape to Equatoriale Interntional, another wholly-owned subsidiary of Swiber. [15/04/13]