Swiber sells interest in Vallianz Marine

Singapore: An indirect subsidiary of Swiber Holdings, Swiber Engineering, has disposed 24,500 ordinary shares, representing 49% equity interest of Vallianz Marine to a subsidiary of an associated company for a total cash consideration of $2.27m.

Vallianz said the acquisition will further strengthen the group’s position as an integrated offshore marine services provider. Currently, Vallianz Marine owns a fleet of four vessels, namely two towing tugs, a utility vessel and an anchor handling tug.  [01/07/14]

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