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Marco Polo Marine Signs SG$139 Million Reverse Takeover Deal

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Marco Polo Marine (SGX:5LY) signed a conditional deal with Catalist-listed Fuji Offset Plates Manufacturing for the latter to acquire its shipyard business for up to SG$139 million.

The consideration comprises SG$120 million upfront and up to SG$19 million in deferred earn-out, to be settled entirely through the issuance of new Fuji Offset shares.

Marco Polo Marine is expected to hold about 74.1% of the enlarged entity, rising to 76.8% if the full deferred consideration is issued, while Fuji plans to rename itself MPSE.

The transaction remains subject to regulatory and shareholder approvals, with completion targeted before June 30, 2027.

Shares of the offshore and marine services company rose 5% in recent trade.

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