Singapore-listed Triyards said it had entered into purchase agreements with Henderson Marine Base to acquire the entire share capital of Strategic Marine.
Strategic Marine has yards in Australia, Singapore and Vietnam and completion of the agreement is expected to take place in 21 days.
Triyards said the acquisition would increase its fabrication facilities and economies of scale and expand its client base.
The net asset value of Strategic Marine for the 12 months ended 31 December 2013 was A$19.7m. The acquisition by Triyards will be funded by 29.5m share placement done on 29 September.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
