Vallianz to buy into Indonesian offshore support vessel chartering company for US$17.5 mln
Vallianz Holdings Limited, a fast growing provider of offshore support ves sels and integrated marine solutions to the oil and gas industry, is proposing to acquire a 49% stake in PT Swiber Berjaya for US$17.5 million to gain entry into Indonesia’s offshore support vessel market, the company said in its press release.
The Group will be acquiring the 49% equity interest in PTSB from Swiber Holdings Limited . The remaining 51% 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% 1 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 Tug vessels, Anchor Handling Tug Supply vessels, Flat Top 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 4 vessels to its fleet.