Swiber shareholders favour offloading Kreuz stake

Singapore: Nearly 82% of votes cast have voted in favour of Swiber Holdings proposed sale of its entire holdings in Kreuz Holdings.
 
In November last year Kreuz Holdings and SEA9, a subsidiary of The Headland Private Equity Fund 6, announced a management-led leveraged buyout of Kreuz Holdings by way of a Scheme of Arrangement for S$446m.
 
Listed in Singapore, Kreuz is 57.5% owned by Swiber Holdings, and is an integrated subsea solutions provider for the oil and gas industry.  [29/01/14]

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