Swissco takeover of VM Marine falls through

Swissco takeover of VM Marine falls through

Swissco Holdings has announced that its plan to take over VM Marine has failed with the parties unable to reach an agreement on the transaction details.

In April, Swissco Holdings signed a non-binding memorandum of understanding to acquire VM Marine International, the parent company of Singapore-based VM Offshore and its subsidiary VM Offshore India; VM Services and vessel holding company Savannah International Offshore.

VM Marine International owns and operates anchor handling tug supply vessels, platform supply vessels and other offshore support vessels through its subsidiaries. The proposed acquisition also included two companies, Chanella Offshore Inc and Galileo Ship Management & Travel Private.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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