KUALA LUMPUR, Oct 2 — Icon Offshore Bhd’s wholly-owned unit, Icon Fleet Sdn Bhd is undertaking three acquisitions to strengthen its portfolio for a total cash consideration of US$42.5 million (RM177 million).
In a filing with Bursa Malaysia today, Icon said the first proposed acquisition is for the purchase of a rig from Perisai Pacific 101 (L) Inc for an adjusted sale price of US$41.8 million.
For the second acquisition, it said Icon Fleet would be purchasing 51 per cent of the issued share capital of Perisai Offshore Sdn Bhd worth RM1.06 million.
As for the third acquisition, it said Icon Fleet has entered into a deed of purchase and assignment of intellectual property (IP) with Perisai Drilling Sdn Bhd for the purchase and assignment of IP of QHES Management System and other required systems to operate and maintain the rig for a purchase consideration of RM2.07 million.
“The acquisitions will provide an opportunity to own and operate the rig and to run the offshore drilling business as a stand-alone model such as chartering it out for drilling, exploration appraisals and development and to provide an additional source of income for the group,” it said. — Bernama
