Ezion sells two businesses to AusGroup for S$55m

JUST over three months after offshore firm Ezion Holdings joined hands with struggling AusGroup to suss out opportunities in the logistics space, both parties have tightened the pact even further.

Separate announcements by the two parties yesterday said that they have entered into an agreement for Ezion to sell its marine base and vessel chartering business to AusGroup for S$55 million.

The deal will allow Ezion to sharpen its focus on the booming service rigs business while AusGroup will be able to expand into Australia's onshore and offshore marine services and marine logistics, as planned.