Last week, Medserv majority shareholders, Anthony Diacono and Anthony Duncan signed a conditional agreement to sell their 65.5% shareholding in Medserv plc to AMT S.A. Advanced Maritime Transports Advanced Maritime, a Swiss registered company, with a global reach having 27 offices across 17 countries.

AMT SA is headquartered in Nyon, Switzerland, along with global operational hubs in the United Kingdom and Singapore, and representation offices in France, India, Portugal and Houston, in support of their core logistics activities within Africa.

Subject to the transaction being successfully concluded, the new entity will have an operational presence in 26 countries on four continents. It will bring a workforce of approximately 900 employees and a global network of preferred partners. AMT, Medserv and METS will become the largest Maltese listed company in terms of global presence.

The combined entity will offer four core products line, End-2-End Logistics, strong Shore Base Logistics and Oil Country Tubular Goods management.  This will develop synergies across the energy and oil and gas supply chain, creating a Unique Selling Proposition. In addition, the group will develop Non-O&G Logistics in key markets.

"This is an incredibly exciting time for the company. It has been a long and rigorous process and we have full confidence that we have appointed the right investors to take the company forward. AMT share the same values and vision for the Group which was essential to us throughout the process. The growth we envisage for Medserv is exponential," said Anthony Diacono and Anthony Duncan in a joint statement, as the two major shareholders of Medserv Group.

The process outlined in the conditional agreement signed by the major shareholders and AMT includes the acquisition of AMT's businesses under the Group' listed Company, Medserv plc, in exchange of new shares. Subject to the Board of Directors of Medserv plc agreeing with the Share for Share exchange, and all conditions set in the agreement being fulfilled, the process is expected to take three to four months to complete. Anthony Diacono and Anthony Duncan confirmed that they shall not participate in any decisions to be taken by the board of directors of Medserv plc in respect of the Share for Share Exchange.

Earlier, the company also issued its interim Directors Statement where it reported a turnover for the third quarter of 2019 of 130% higher than that achieved in the third quarter of year 2018, resulting in EBITDA improvement of 113% over same period last year.  The company says it is confident they will achieve the published EBITDA for the year amounting to €14.1 million, a 93% increase over the amount generated in year 2018.