Sponsored By

Vallianz acquires crew supply firm OER for $27.7m

Offshore vessels provider Vallianz Holdings has acquired an offshore services firm OER Holdings for $27.7m.

Lee Hong Liang, Asia Correspondent

October 1, 2014

1 Min Read
Kalyakan - stock.adobe.com

Singapore-headquartered OER is a provider of manpower services to the offshore industry and has been supplying crew and related hospitaility services to clients worldwide.

Vallianz said the acquisition will enable the group to attain greater efficiency in the management of crew personnel and raise the value of its services to customers. At the same time, it will also expand the group’s customer base and geographical footprint.

“The group provides crew personnel as part of our services for our vessels under charters, as well as for third-party vessels. By acquiring OER, we will be able to consolidate the management of crew resources under one roof, and benefit from improved operational efficiency and economies of scale,” said Darren Yeo, ceo of Vallianz.

The purchase consideration will be satisfied by the issue of 250m ordinary shares in the capital of Singapore-listed Vallianz at a price of SGD0.14 per share, representing a 27% premium to Vallianz’s volume-weighted average price of SGD0.1101 per share on 30 September 2014.

The latest acquisition follows on the heels of Vallianz’s recent purchase of a marine base in Batam, Indonesia for $15.8m.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like