Otto Marine considering options for subsea services division
Published on Aug 25, 2014 9:53 AM
SINGAPORE - Offshore marine company Otto Marine has hired UOB Kay Hian Holdings to advise it on how to grow its subsea services division, the Singapore-listed group said on Monday.
The aim is to "develop the international profile and competitive position of its subsea services unit in the increasingly growing segment", it added.
The group will look at strategic options including a potential listing on the Singapore Exchange.
"The exploration of strategic alternatives for Otto Marine demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus," said Otto's group executive director Michael See.
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