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15 January 2021 The on-line newspaper devoted to the world of transports 18:57 GMT+1

May 13, 2019

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Fusion of the technical services of the Londoners Aqualis and Braemar

Braemar will become shareholder of majority of the Aqualis with an initial quota 26% that will be able to go up to 33%

The London society of brokerage and services to the marine industry Braemar Shipping Services has tightened an agreement with the concittadina Aqualis, that it supplies services of advising to the industry of oil & the offshore gas and the offshore wind power, in order to yield them the three coppers of Adjusting activity, Navy and Offshore that together group the great part of the activities of the division Braemar Technical Services (BTS). The understanding previews that the Braemar initially becomes shareholder of majority of the Aqualis with a quota share capital pairs to 26% about that it will be able to go up to 33% on the base of the performances of the Aqualis.

With the acquisition Aqualis ASA, that it is quoted to the Stock exchange of Oslo, will be renamed AqualisBraemar and will be organized in four main branches of activity: Adjusting, Navy, Offshore and Renewables. The society will continue to having the headquarters to London. According to the forecasts, the passage of the activities of the BTS to the Aqualis will be completed within the end of 2021.

In the exercise the 2018 revenues recorded from the Aqualis are piled to about 36 million dollars and those totaled from division BTS of the Braemar have been pairs to 40 million dollars.

"Aqualis and Braemar Technical Services - it has emphasized the managing director of the Aqualis, David Wells - are two of the main societies of marine advising to total level. Joining the forces we create a more sustainable activity with a solid platform for an international increase". "We are pleased - the managing director of the Braemar James Kidwell has declared - to announce the sale almost all the technical division of the Braemar to Aqualis ASA in exchange for a shareholding in the increased group. Our respective activities are arranged well and the fusion will create a position of leadership in the Adjusting services, Navy, Offshore and Renewables, with a total cover that will allow with the more hard new arranged activity to put into effect remarkable synergies is relatively to the entrances that to the costs".

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