Triyards buys Strategic Marine yards in Singapore and Vietnam

Singapore: Two subsidiaries of Singapore-based Triyards Holdings have entered into equity purchase agreements to acquire the entire issued share capital of Strategic Marine (S) and the charter capital of Strategic Marine (V) Company from Henderson Marine Base for the total sum of A$23.3m.

Strategic Marine (S) holds Australia-headquartered Henderson Marine Base’s shipbuilding and fabrication facility located in Singapore, while Strategic Marine (V) holds Henderson’s yard at Vung Tau, Vietnam.

The sum will be paid entirely by cash and will be funded by the proceeds from 29,500,000 new ordinary shares in the capital of Triyards Holdings, issued on at September 29, 2014 and from internal cash resources, Triyards said in a statement today. [14/10/14]