Singapore-based Otto Marine announced today they have purchased the remaining 10 percent block of shares of Perth-based offshore services provider, Go Marine Group Pty Ltd.
Otto Marine’s wholly owned subsidiary Otto Ventures Pte Ltd owned 90 percent of Go Marine Group’s shares prior to today’s acquisition.
Go Marine Group’s Executive Director and Group CEO Garrick James Stanley is the beneficial owner of 89,335,714 new shares in Otto Marine Group, valued at USD $5 million.