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SINGAPORE: Marine services provider, Ezra Holdings said it has acquired Intrepid Global, a firm specialising in deepwater subsea projects.
It bought 9 million of Intrepid's ordinary shares for S$180,000 in cash and 1.5 million Ezra shares.
The 9 million Intrepid shares represent 90 per cent of its entire issued and paid-up share capital.
Ezra said the deal will be funded through internal resources.
It added that the acquisition will boost its capabilities and allow it to broaden its scope of subsea services for its existing customer base.
Ezra said the acquisition is not expected to have significant impact on its net assets and earnings. - 938LIVE/vm
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