Jaya selling units to Mermaid Marine Australia
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
JAYA Holdings, a mainboard-listed offshore oil-and-gas services provider, yesterday said it would be selling its subsidiaries to Australia-listed Mermaid Marine Australia (MMA) for $625 million.
The sale, representing all eight of Jaya's offshore support services (OSS) and offshore engineering services (OES) businesses, comes after a strategic review conducted by Jaya last September, during which it explored options to enhance shareholder value.
A Jaya spokesman told The Business Times: "Bidders were invited to put forward bids for Jaya's OSS and OES businesses on an individual or combined basis. This resulted in the current structure of an asset sale rather than an offer."
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
