Ezion is acquiring 100% of the share capital of Teras Conquest 4 for $32.5m, which owns a single multi-purpose, self-propelled jack-up rig, or liftboat.
The rig is currently on a six year charter to Ezion and will become a wholly owned subsidiary of the company.
“The transaction will allow Ezion to re-flag the liftboat and better position itself for subsequent renewal of the charter contract,” Ezion said.
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