DOL, incorporated in Nigeria, is principally engaged in providing offshore engineering, procurement, construction, installation and commissioning services in the sub-Saharan Africa region.
“Based on the audited financial statements of DOL for the period ended 31 December 2014, the net tangible asset value of DOL was approximately $23,397,” Swiber mentioned in a statement.
Swiber said the acquisition will be funded through internal resources and is not expected to have any impact on its financial year ending 31 December 2016.
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