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Swiss logistics firm KuehneÌý+ Nagel said Monday that it will buy J. Martens Holding AS, a Norwegian service provider to the oil and gas industry, Reuters reported.

Martens had revenue of about $184 million last year, Reuters said.

J. Martens also has operations in markets such as Singapore, Great Britain and the Netherlands, KuehneÌý+ Nagel told Reuters.

The transaction is subject to regulatorproval.