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What acquisition of remaining 50% stake in JV means for Ezion

PC Lee
PC Lee3/28/2017 04:29 PM GMT+08  • 3 min read
What acquisition of remaining 50% stake in JV means for Ezion
SINGAPORE (March 28): Ezion this morning announced that it had acquired the remaining 50% interest in its existing joint venture with Swissco for a total cash consideration of $5 million.
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SINGAPORE (March 28): Ezion this morning announced that it had acquired the remaining 50% interest in its existing joint venture with Swissco for a total cash consideration of $5 million.

(See also: Ezion acquires existing JVs & assets in efforts to improve earnings)

Of the total consideration, $3.5 million is for the remaining 50% stake in Strategic Offshore Limited (SOL), which owns three rigs assets: GSP Atlas, GSP Orizont and GSP Fortuna.

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