Swissco gets nod for Scott & English deal
Shareholders also pass resolution to consolidate shares
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SWISSCO Holdings yesterday received the go-ahead from its shareholders for the "very substantial acquisition" of privately owned oil and gas contractor Scott & English Energy for about S$285 million.
Alex Yeo, Swissco group chief executive officer, said: "This acquisition combines the expertise, know-how and track record of Swissco, a leading marine service provider, with the sourcing capabilities and industry connections of Scott & English Energy, a fast-growing international rig owner."
He added that the acquisition would lead to operational synergies, enabling the group to achieve a stable and recurring income stream.
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