Drew & Napier acted for Jaya Holdings Limited which has entered into a conditional sale and purchase agreement to sell the shares of all its operating subsidiaries to Mermaid Marine Australia Limited for an aggregate consideration of S$625 million.
Jaya Holdings Limited is a leading Offshore Energy Services Group, headquartered in Singapore, and provides a wide range of services and solutions to the offshore oil and gas exploration and production (E&P) domain.
The Company designs and constructs specialised offshore assets in its fully owned facilities in Singapore and Indonesia (Batam). Jaya also owns and operates a fleet of specialised offshore vessels designed and built to global standards and to be able to operate on a worldwide basis, supporting offshore E&P, marine construction, mining and marine-related activities. Jaya’s current fleet consists of 28 vessels.
Directors Farhana Siddiqui and Lam Shiao Ning, Senior Associates Sheetal Sandhu and Jonathan Lau, and Associates Brent Huang and Lin Weihong led in the transaction. Director Ralph Lim also led in dealing with undertaking shareholders.
