NextGeo expands with 75% stake in subsea firm

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Marine geosciences and offshore construction firm Next Geosolutions (NextGeo) has bought three quarters of the Italian subsea intervention company Rana Subsea, it has said.

The €36.7 million deal means that NextGeo now has a 75.4% stake in Rana Subsea, which has a strong presence in the Mediterranean and West African markets, thus expanding NextGeo activities across the energy sector, particularly in offshore renewables, cabling and oil and gas.

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