ASL Marine Group Acquires VOSTA LMG
VOSTA LMG has announced that effective on November 12, a conditional sale and purchase agreement of VOSTA LMG Group of Companies and CFT International GmbH by a company of ASL Marine Group has been agreed upon.
VOSTA LMG CEO and shareholder R. Dietze and ASL Marine Group Managing Director K.T. Ang entered into a contract for takeover of 100 percent of the shares by Leo Dynamische Investering BV, a wholly owned subsidiary of ASL Marine Group. The takeover follows many successful years of cooperation between VOSTA LMG and ASL Marine Group.
It is the Group’s strategy to maintain independent and normal business operations at VOSTA LMG post acquisition. VOSTA LMG does not own shipyards or fabrication plants. Therefore, it works with various shipyards and fabrication plants on its turnkey projects. However, the acquisition will not result in all VOSTA LMG’s projects to be undertaken at the Group’s shipyards. The selection of the yard will be dependent of price, quality, and client preference.