Chinese group acquires Swedish rig specialist

China International Marine Containers Group (CIMC) has acquired 90-percent ownership of Swedish rig specialist Bassoe Technology AB, announced CIMC Raffles, the group's major offshore business, on Saturday.

Bassoe Technology was founded in 2007. It develops floating rigs including drillships and semi-submersibles.

CIMC Raffles is an integrated offshore rig builder based in east China's Yantai City, Shandong Province. It is a subsidiary of the Hong Kong- and Shenzhen-listed shipping and logistics group CIMC.

CIMC Raffles specializes in semi-submersible rigs, jack-up and multi-purpose offshore projects.

The parent company, Bassoe Group, retains a 10-percent state in Bassoe Technology under the deal, signed on Thursday.