Vallianz acquires offshore services firm OER for $35.4m
It will issue 250m new shares at $0.14 each.
Mainboard-listed Vallianz Holdings Limited today revealed that it is acquiring offshore services firm OER Holdings Pte. Ltd. for $35.35 million (US$27.7m).
The purchase consideration will be satisfied by the issue of 250 million ordinary share at S$0.14 per share, representing a premium of 27% to Vallianz’s volume-weighted average price.
The Acquisition follows on the heels of Vallianz’s recent purchase of a marine base in Batam, Indonesia.