NextGeo tightens grip on Rana Subsea with fresh stake buy

Italy’s Next Geosolutions (NextGeo) has moved to tighten its control over Rana Subsea, exercising an option to acquire a further 7.1% stake in the business. The shares were bought from Nettuno Capital for €7.25m ($8.5m), taking NextGeo’s total holding in Rana to 82.5%. The Milan-listed company, part of the Naples-based Marnavi Group, has been steadily …

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