MMA Completes $495M Acquisition of Singapore's Jaya Holdings

Mermaid Marine Australia Limited (MMA or Company) informed the Australian Securities Exchange (ASX) Wednesday that it has completed the acquisition of all subsidiaries of Singapore-based offshore engineering services and offshore support services provider Jaya Holdings Limited.

The $495 million (SGD 625 million) takeover of Jaya will add 27 offshore vessels to MMA’s fleet and provide the Australia-based company with two onshore facilities in Singapore and Batam, Indonesia.

MMA, working closely with Jaya's management and staff, has developed a detailed integration plan to swiftly and effectively integrate the latter’s operations with its own.

“The Jaya acquisition represents the realization of a number of the strategic goals we set for ourselves as a company in 2011/2012. It is with great excitement and confidence that we start this new phase in MMA’s development as a major international offshore oil and gas service provider,” MMA Managing Director Jeff Weber said in the letter to ASX.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  CNOOC to Drill 126 Exploration Wells i... (Jan 19)
 -  Sound Energy Looks to Buy OGIF's Asset... (Jan 19)
 -  Lundin's Development Expenditure to To... (Jan 19)
 -  CNOOC Commences Production from Enping... (Jan 18)
 -  Statoil Granted Drilling Permit for We... (Jan 18)


Most Popular Articles

From the Career Center
Jobs that may interest you
Sr. Electronics Engineer
Expertise: Electrical Engineering|Engineering Manager
Location: Houston, TX
 
United States Midland: Account Rep, Bus Dev
Expertise: Business Development|Sales
Location: Midland, TX
 
United States Midland: Account Rep, Bus Dev
Expertise: Business Development|Sales
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
Natural Gas : $3.3/MMBtu 3.22%
Updated in last 24 hours