October 9, 2018 / 6:53 AM / 2 months ago

Thalassa to form Luxembourg unit, targets future listing

(Reuters) - Thalassa Holdings (THAL.L) said on Tuesday it was creating a new unit in Luxembourg to get a listing on the country’s stock exchange ahead of UK’s departure from the European Union.

The company, which operates in several businesses including geophysical surveys service, autonomous underwater vehicle research, homeland security and real estate services, said it expects the unit to initially be a cash shell hunting for deals across Europe and give it greater post-Brexit flexibility.

The listing will also provide the company additional funds for the deals it expects the unit to consider, Thalassa said.

Reporting by Shariq Khan in Bengaluru; Editing by Bernard Orr

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