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Subocean Group, the Aberdeen-based offshore engineering firm with 380 staff, has been bought of administration by Technip of France for undisclosed terms.

Subocean Group has secured a £42m private equity investment from LDC to fund the expansion of its Aberdeen-based offshore wind farms construction business, with the creation of 45 jobs.

Subocean is to create a further 50 jobs at its subsea installation business in Aberdeen by the end of the year, and a new 5,400 sq ft office will open next to its existing site.