Ezra Holdings Completes $250MM Acquisition Of Aker Marine Contractors

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$250.0MM
Description

Closed acquisition of subsea products, equipment provider.

Ezra Holdings Ltd. has completed its acquisition of Houston-based Aker Marine Contractors AS from Aker Solutions AS, a subsidiary of Aker Solutions ASA, Oslo, (Oslo: AKSO) for US$250 million.

The purchase price comprises $50 million in cash, $100 million in shares of Ezra Holdings and $50 million in a convertible bond.

Ezra, which will operate as EMAS AMC, says its acquisition of Aker Marine Contractors broadens its portfolio of services, including the installation of subsea products and equipment.

In addition, EMAS and Aker Solutions have entered into a 50/50 joint venture for the ownership and chartering of the AMC Connector, a newly commissioned multipurpose construction vessel valued at approximately US$300 million. The connector is expected to be delivered in early 2012 and has secured a long-term charter with a leading global industrial company based in Europe.