Icon Offshore Bhd has received shareholder approval to acquire stakes in several marine companies and change its name to Lianson Fleet Group Bhd (LFG). The acquisitions, valued at RM403.5 million, will add 40 vessels to LFG's fleet. The rebranding reflects LFG's commitment to expanding its operations and market presence in the offshore marine, energy, and transportation services sector.
Icon Offshore Bhd, an offshore support vessel provider, has secured approvals from its shareholders for proposed acquisitions and change of name to Lianson Fleet Group Bhd at an extraordinary general meeting held on Monday.
The acquisitions will be satisfied through the issuance of 458.5 million new ordinary shares of LFG at 88 sen per share. This will increase LFG’s fleet size with 40 additional marine assets. In a statement the group said the proposed name change to Lianson Fleet Group underscores its dedication towards reinforcing its market presence to better align with its expanded business activities.
ACQUISITIONS REBRANDING OFFSHORE INDUSTRY ENERGY TRANSPORTATION
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