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Ezion in talks with Swissco interim JMs to buy out 4 rigs

Ezion is the backer for loans tied to these units, but could face difficulties keeping the rigs employed

Published Tue, Mar 7, 2017 · 09:50 PM

Singapore

OILFIELD services provider Ezion Holdings is understood to be in final talks with the interim judicial managers (IJMs) of Swissco Holdings, to take over four rigs co-owned by joint ventures between the two parties at a total consideration of over US$16 million.

The Business Times (BT) understands Ezion has upped its offer to over US$4 million per rig after Swissco's IJMs pushed back the earlier takeover bid priced at about US$3 million per rig.