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Ezion Holdings acquires owner of jack-up rig for $42 million

Published on Jan 2, 2014 9:00 PM

OFFSHORE and marine firm Ezion Holdings has acquired a company whose sole asset is a jack-up rig.

In an announcement on Thursday, Ezion said it has bought Teras Conquest 4, a Singapore company, for US$32.5 million ($42.21 million).

The latter owns a jack-up rig which has been on a six-year lease to Ezion since February 2012.

The acquisition amount will be paid via the issuance of Ezion shares to four funds - the owners of Teras Conquest 4 - Evia Growth Opportunities II, Venstar Investments, Venstar Investments II and Skyven Growth Opportunities Fund.

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