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AusGroup to buy units of Ezion Holdings for $55 million

Published on Jul 23, 2014 10:55 AM
 
Ezion Holdings got its start introducing liftboats to the Asia-Pacific region, vessels which are capable of self-elevation and have a large open deck area for transporting equipment. AusGroup has agreed to buy Ezion Offshore Logistics and 90 per cent of Teras Australia from Ezion Holdings for about $55 million. -- PHOTO: EZION HOLDINGS

SINGAPORE - AusGroup has agreed to buy Ezion Offshore Logistics and 90 per cent of Teras Australia from Ezion Holdings for about $55 million.

The acquisitions will give Singapore-listed AusGroup new marine services expertise and help it achieve its goal of becoming a more fully integrated provider of services to oil and gas firms, the company said in a filing to the Singapore Exchange.

Ezion Offshore Logistics, a wholly-owned unit of Singapore-listed Ezion Holdings, is setting up a port and marine supply base providing administrative, storage and logistics support to vessels.

Teras, an Australia-incorporated company which Ezion Holdings owns 90 per cent, provides ship chartering services and maritime training to indigenous workers in Australia.

 
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