Offshore staff

SINGAPORE -- Pan-United Marine Ltd. has accepted the takeover offer put forward by Dubai Drydocks World Llc.

DD World, a recently launched maritime holding company, has made a voluntary conditional cash offer for PUM's ordinary shares.

Securing a controlling stake in PUM is part of the group's investment strategy for Asia, Sultan Ahmed Bin Sulayem, Dubai Drydocks chairman, said in a statement released on May 28.

"Maritime services are part of our group's core business profile, and it is our aim to position Dubai Drydocks World as a dominant player in the international market," Sulayem said.

5/30/2007