The Singapore-listed offshore vessel owner revealed lastweek it would invest SGD 285m ($226.3m) to take control of Scott and EnglishEnergy, a compatriot company that owns four drilling rigs.
Swissco’s made a net profit of SGD 23m last year,triple the level seen a year earlier, thanks to its rapid expansion.
The company is scheduled to take delivery of six more newbuildingsby the end of the year and four in 2015, taking its total fleet to 44.
After completing the takeover Swissco should achieve aminimum net profit of SGD 46m in 2015, according to analysts at CIMB inSingapore.
The company is then likely to turn to capital markets for fundsto continue on the expansion trail, they said in a note to clients.
When the takeover is finalised around the middle ofSeptember Swissco will more than double its market capitalisation to SGD 420m from SGD 160m currently.
