The board of Seamec will meet on Saturday to consider a restructuring proposal between the company and HAL Offshore, an unlisted entity, which holds 69.57 per cent stake in it. Investors will closely watch the development. Seamec was initially promoted by Peerless Finance, but after a series of changes in 2001, it became a subsidiary of Technip, France. Subsequently, HAL Offshore acquired a 51 per cent stake in 2014 and increased its stake further in Seamec.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.