Singapore-listed Kreuz Holdings is looking to acquire a multipurpose subsea dive support and construction vessel from a Chinese shipyard.
“Under the proposed acquisition mandate, the contract price of the vessel will be in a range between $100m and $120m. It will be satisfied in cash and funded by a combination of loans from financial institutions, cash flow from operations and/or other financing methods” Kreuz announced on Monday.
Kreuz, an integrated subsea service provider to the offshore oil and gas industry, aims to become an established deepwater installation player by 2015.