AusGroup to buy units of Ezion Holdings for $55 million
Published on Jul 23, 2014 10:55 AM
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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here