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Ezion takes stake in Ausgroup, plans to collaborate on projects

Published on Apr 9, 2014 11:47 AM

SINGAPORE - Offshore and marine group Ezion Holdings has bought a substantial shareholding in marine and offshore services firm Ausgroup.

Ezion acquired 39.9 million shares in Ausgroup on Apr 3, giving it a 6.9 per cent stake in the company, Ausgroup said on Wednesday.

Ezion also agreed to subscribe for 110 million share options in Ausgroup. Each option can be used to subscribe for one Ausgroup share at an exercise price of 36.75 cents apiece.

Meanwhile, Ezion and Ausgroup have signed a memorandum of understanding to explore and pursue opportunities for collaboration.

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