Cairo – Mubasher: Maridive and Oil Services said that Khaled Abdullah Al Subeaei Holding Company offered to acquire its 99.99%-owned subsidiary Maridive Offshore Projects.

The offer will be referred to the board of directors for approval, Maridive said in a statement to the Egyptian Exchange (EGX) on Sunday.

The matter is still under consideration until the completion of all the required procedures and organizational aspects and the receipt of the administrative approvals.

It is noteworthy to mention that in 2019, Maridive reported net profits of $2.64 million, down from $14.002 million in 2018.