Mermaid Marine to buy Singapore's Jaya

The Australian oil and gas marine services provider started an accelerated bookbuild on Tuesday to help fund the $496m acquisition, which will almost double its vessel fleet.

Mermaid Marine Australia is looking to sell shares this week to help fund the A$550 million ($496 million) purchase of Singapore oil and gas marine service provider Jaya Holdings, which will almost double its vessel fleet.

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