Surprise energy transition story in Monday’s $1b buyout
The last time vessel owner MMA Offshore hit the headlines, it was an offshore oil and gas services group going broke. Now it has a $1 billion bid, and investors can thank the energy transition.
Vessels owner MMA Offshore makes only a quarter of revenue servicing offshore wind farms.
Yet that quarter, worth $55 million in the past six months, was enough to attract a $1 billion takeover bid and should see this boom-and-bust boats owner on track to depart the ASX boards on a high.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
