Thalassa Holdings said it has received an indication of interest from an undisclosed industry participant for the potential acquisition of 100% of the business and assets of a marine geophysical services company WGP Group.
The interested party has begun preliminary due diligence and the on-going discussions may or may not lead to a letter of intent, Thalassa said.
In addition, as part of the potential transaction, Thalassa may enter into an agreement to grant the interested party an option to invest in Autonomous Robotics Ltd, subject to reaching mutually agreeable terms.
The board of Thalassa expects that due diligence will be completed in the next few weeks and that negotiations should be completed shortly thereafter.
WGP was acquired by Thalassa Holdings in November 2011.