By Frank Prenesti
Date: Tuesday 08 Jan 2019
LONDON (ShareCast) - (Sharecast News) - Marine, oil and gas services group James Fisher and Sons said it had made two acquisitions worth up to £18.6m.
The company said on Tuesday it had bought the entire share capital of Martek Holdings Limited for £9m and 60% of Murjan Al-Sharq for Marine Contracting (MSMC) for an initial £4.1m in cash.
Under the deals Fisher will pay out an extra £1m for Martek subject to a profit target for the year ending 28 February 2020 and an additional £4.6m for MSMC subject to profit targets for the year ending 31 December 2019.
Saudi-based MSMC, was established in 2010 by Abdullah Akbar Natheer, who retains a 40% minority interest.
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