Triyards to acquire Strategic Marine for $25.9m

It’s increasing its shipbuilding and fabrication capability.

Mainboard-listed Triyards Holdings today revealed that it has entered into separate equity purchase agreements to purchase the entire issued share capital of Strategic Marine Singapore and Strategic Marine Vietnam,

The deal was inked with Henderson Marine Base, a shipbuilder and fabricator incorporated in Western Australia, for an aggregate consideration of $25.89m (A$23.3 million).

The Aggregate Consideration will be paid entirely by cash and will be funded by the proceeds from the issuance of 29,500,000 new ordinary shares in the capital ofTriyards at S$0.70 per Share on 29 September 2014 and internal cash resources