Malaysia’s Eversendai to acquire local liftboat operator

Malaysian construction company Eversendai Corporation has confirmed its intention to acquire a 100 per cent equity interest in local liftboat operator Vahana Offshore and its subsidiaries.

The acquisition will also encompass both of Vahana's owned liftboats, Vahana Aryan (pictured) and Vahana Arjun which is still under construction. The vessels are designed primarily for use in maintenance, commissioning, and decommissioning of offshore oil and gas platforms.

The acquisition has an estimated value of approximately MYR235 million (US$54.9 million).