Zapata To Acquire Offshore Services Ltd. From Trafalgar House

Zapata Corporation of Houston recently announced that its board of directors and the board of directors of Trafalgar House Limited have approved an agreement for Zapata's U.K. subsidiary, Zapata Off-Shore Services Limited, to acquire Offshore Marine Limited, an offshore oilfield supply vessel firm based in Great Yarmouth, England. Zapata said that under terms of the agreement, Offshore Marine Limited will be purchased from Cunard Steam-Ship Company Limited, a Trafalgar House Limited subsidiary, for approximately $50 million. Offshore Marine operates 24 oilfield supply vessels. The transaction is subject to British government approval.

Zapata Corporation is a diversified natural resources company, primarily involved in the development of energy and proteins. In addition to marine services, its businesses include offshore drilling, oil and gas operations, shipping, coal mining, commercial fishing and related processing, and construction and dredging.

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