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Mumbai, Nov. 5

Great Offshore informed Bombay Stock Exchange on Wednesday that it has acquired two Andhra Pradesh based companies KEI-RSOS Maritime Ltd (KEI) and Rajamahendri Shipping & Oilfield Services Ltd (RSOS) for Rs 160 crore. “The company on November 5, completed all procedural formalities and acquired 100 per cent equity stake in two companies,” said the company in a notice to BSE. The two companies based in Hyderabad and Rajahmundry respectively are in the mariti me business of providing offshore support and single point mooring operations by operating a diverse fleet of 19 assets (9 offshore support vessels and 10 harbour tugs). The new building order book comprising 4 vessels are expected to be delivered during the financial year 2008-09. Additionally, KEI has been awarded contract for providing comprehensive marine operations services for the Gangavaram Port for a period of 12 years, said BSE notice. Being wholly owned subsidiaries of Great Offshore, the companies will add to EPS accretion on a consolidated basis for this fiscal, which ends on March 31, 2009, it added.

– Our Bureau

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