Italy-based Next Geosolutions (NextGeo) has increased its ownership in Rana Subsea to 82.5% after exercising a call option to acquire an additional approximately 7.1% stake.
The latest transaction follows a sale and purchase agreement signed in July 2025, when Next Geosolutions (NextGeo) initially acquired 75.4% of the subsea services company. The move marked an expansion of its operations into the Mediterranean and West African markets, alongside a broader service offering.
At the end of April, NextGeo confirmed it had purchased the additional stake from Nettuno Capital for €7.25 million. With this acquisition, the company now holds an 82.5% share in Rana Subsea, a subsea services provider established in 1964.
Recently, Rana Subsea secured a contract from Saipem for a project in the Middle East. In preparation for this assignment, NextGeo has strengthened its fleet with a new vessel designed to support complex subsea operations.
Rana Subsea operates across Italy, Congo, Libya and Equatorial Guinea, supporting offshore activities in West and North Africa. Through its subsidiary Rana Works BV, the company also maintains an operational base in the Netherlands.
