STATS has executed a Share Purchase Agreement to sell 100% of its issued share capital to Mitsui & Co.
The deal combines the Aberdeenshire-headquartered pipeline technology company with the Japanese group's iron and steel business unit. The transaction is expected to close later this summer, subject to the satisfaction of regulatory approvals.
“The acquisition of STATS is complementary to Mitsui’s plan to establish a strong, sustainable presence in the pipeline maintenance market as a service provider,” said STATS chief executive Leigh Howarth.
