neptune-comes-full-circle

Neptune comes full circle

A deal with Jasper Investments suggests that the company's legal difficulties may have come to an end.
Holding company Jasper Investments is to buy a 55.4% stake in Neptune Marine Oil and Gas, in a deal that should resolve the protracted litigation against Neptune.

Turquoise Offshore, a special purpose vehicle incorporated by Jasper Investments, is to enter into the share purchase agreement, and the sellers are Primepoint Holdings and Neptune CEO Idar Iversen. Primepoint is an investment company controlled by Iversen. Jasper Investments, meanwhile, is a company that invests in growth enterprises in Asia, and it, in turn is 45%-owned by Ashmore Investment, a leading London-based emerging market specialist.

Ironically, the deal brings Iversen full circle. Earlier this year, he structured a management buy-out to acquire the 35% stake in Neptune held...
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