Financial Wire

ContiOcean Environment Tech Closes $29 Million Acquisition of Two Vessels

-- ContiOcean Environment Tech (HKG:2613) completed its $28.8 million acquisition of two vessels, according to a Friday Hong Kong bourse filing.

The deal, first announced in December, covers OM Shanghai and OM Singapore and was funded through internal resources, initial public offering proceeds, and external financing.

The vessels are intended to support the company's maritime research and development platform and mobile exhibition strategy, while also being chartered to third parties to generate income.

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