SINGAPORE (Yosefardi) – Jaya Holdings Limited had Tuesday (Feb 25) entered into a sale and purchase agreement (SPA) with Mermaid Marine Asia Pte Ltd and Mermaid Marine Australia Limited (MMA) for divesting some assets, incling its shipyard in Batam, Indonesia.
Jaya Holdings divests its entired issued and paid-up share capital of all of the subsidiaries for S$625 million.
The divested assets are Jaya Marine Pte Ltd, Jaya Marine Lines Pte Ltd, Jaya Offshore Pte Ltd, Jaya Offshore Services Pte Ltd, Jaya Shipbuilding and Engineering Pte Ltd, Jaya Century Pte Ltd, Xinet Pte Ltd, and Jaya Offshore (HK) Limited.
The sale companies are offshore supp ort services business and offshore engineering service business, which involves the building and servicing of offshore support vessels in two shipyards located in Singapore and Batam (Indonesia).