Singapore-based offshore vessel operator Jaya Holdings has agreed to sell the entirety of the company's subsidiaries and assets to Mermaid Marine Australia for S$625 million (US$494 million).
According to Jaya Holdings, the sale of the company's subsidiaries and assets effectively represents the entirety of Jaya's marine operations and brand.
The proposed transaction was the result of a strategic review process announced in early September, 2013. The deal represents a 45 per cent premium on Jaya's current share value.
{WISroYQ symbol='J10.SI'}
{WISroYQ symbol='MRM.AX'}
