Italy-headquartered Next Geosolutions (NextGeo) has exercised the call option to acquire a further circa 7.1% of Rana Subsea, a compatriot subsea services company established in 1964, bringing its share capital to 82.5%.
NextGeo signed a sale and purchase agreement for the acquisition of 75.4% of the share capital in Rana Subsea in July 2025, thereby expanding its operations into the Mediterranean and West African countries and broadening its range of services.
Following the exercise of the put and call options, the Italian firm announced at the end of April that it had purchased a further approximately 7.1% of Rana Subsea from Nettuno Capital, at a price of €7.25 million.
With this transaction, NextGeo holds 82.5% of Rana’s share capital.
Rana Subsea was recently hired by Italy-headquartered engineering, drilling, and construction services giant Saipem for an assignment in the Middle East . As a result, NextGeo strengthened its fleet with a new vessel specifically designed for the execution of complex subsea operations, to be used during this assignment.
Besides Italy, Rana is present in Congo, Libya, and Equatorial Guinea, from which it conducts operations offshore West and North Africa. Through the subsidiary Rana Works BV, it holds an operational base in the Netherlands.