Ezion Holdings has signed agreements to dispose of its 100% effective interest in subsidiary Teras Sunrise for US$80.2 million ($108.51 million) as well as two towing tugs for US$3.46 million.

Teras Sunrise, which owns a liftboat of the same name, along with the two towing tugs “Teras Darius” and “Teras Eden”, are being sold to ZhongXie (HK) Industrial Company, a Hong Kong-incorporated marine logistics firm. 

According to Ezion’s filing to the Singapore Exchange on July 13, the consideration from the two towing tugs will be in cash and utilised to repay the secured bank loans of the group.

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