Swissco Steps Into Offshore Rig Chartering Business
Singapore based marine service provider for the offshore oil and gas industry, Swissco Holdings Limited, informs it has entered into a definitive Sale and Purchase Agreement for the S$285.0 million acquisition of Scott and English Energy Pte. Ltd. which will enable Swissco to move into the offshore rig chartering business. Swissco adds that the SPA was signed with Double Dragon Energy Holdings Limited for the acquisition of the entire issued and paid-up share capital in Scott and English. Commenting on the transaction, Mr.
Swissco Enters Offshore Rig Charter Business
Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in their exploration and production (E&P) activities. Operational synergies expected with the acquisition, providing Swissco Group with a diversified earnings base with stable, recurring income. SGX Mainboard-listed Swissco Holdings Limited, a leading marine service provider for the offshore oil and gas industry, announced the proposed acquisition of Scott and English Energy Pte. Ltd. for approximately S$285.0 million today.
