Vallianz acquires Indonesian companyCompany News // November 12, 2014
Vallianz Holdings Limited is proposing to acquire a 49 per cent stake in PT Swiber Berjaya (PTSB) for US$17.5 million, in order to gain entry into Indonesia’s offshore support vessel market.
The group will be acquiring the 49 per cent equity interest in PTSB from Swiber Holdings Limited.
The remaining 51 per cent in PTSB will continue to be held by PTSB’s Indonesian shareholder. Upon completion of the Acquisition, Swiber will continue to benefit from PTSB through its direct shareholding of 23.36 per cent in Vallianz.
Established in 1996, PTSB owns and charters OSVs to support the oil and gas exploration and production activities of oil majors and national oil companies in the Indonesian waters. It operates a young and diversified fleet of 18 OSVs comprising mainly anchor handling tugs and anchor handling tug supply vessels, barges and accommodation work barges.
To address the demand for OSVs in the Indonesia market, which is regulated
by the cabotage law, PTSB plans to add another four vessels to its fleet.