Otto Marine takeover moves a step closer

Otto Marine takeover moves a step closer

Singapore offshore shipbuilder and vessel operator Otto Marine has announced that Singapore Exchange has no objection to the proposed delisting of the company’s shares from the SGX.

Otto Marine announced a plan to voluntarily delist in June after receiving a takeover offer from a company owned by Datuk Seri Yaw Chee Siew, Otto Marine’s executive chairman and controlling shareholder.

The takeover and delisting is still subject to the approval of shareholders.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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