POSH in Mexican OSV joint venture

PACC Offshore Services Holdings Ltd. has signed a term sheet with Grupo Pegaso, a Mexican conglomerate.

Pursuant to the term sheet, Grupo Pegaso will acquire interests in the Company’s joint ventures in Mexico which are involved in the owning and chartering of offshore support vessels.The parties are now working towards signing a definitive agreement.

Grupo Pegaso, based in Mexico City, manages the investments of the Burillo Azcárraga family. Its portfolio covers an extensive array of investments from telecommunications, real estate, agro industries, sports, technology, media, aviation and energy, among others.

Press Release, July 17, 2014

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