October 29 - Singapore-headquartered Miclyn Express Offshore (MEO) has executed a sale and purchase agreement to acquire 50 percent of the shares in Uniwise Towage Limited (UWT) from Svitzer Asia.

Based in Thailand, UWT, which has been operating since 1999 as a joint venture between Svitzer and the Unithai Group, operates a fleet of five marine support vessels and utility vessels, which are all chartered to oil companies in Thailand.

MEO has agreed to purchase all of Svitzer's shares in UWT for a consideration of USD18.9 million.

"This acquisition is a natural extension of the position we have built up in Thailand in offshore vessel support services," says ceo of MEO, Diederik de Boer.

www.miclynexpressoffshore.com

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