Ezion Holdings is in discussions with the interim judicial managers of Swissco Holdings to try and snap up four bargain rigs it has in a joint venture. The managers of Swissco admitted discussions are ongoing in a release to the Singapore Exchange, although it did not confirm a price mentioned in the local Business Times which put the deal at just over $16m.
Swissco sought judicial management in Singapore last November with debts of around $150m.
Originally an OSV operator, it was Swissco’s decision to diversify into pricey rigs in 2014 that helped lead to its downfall.
