{"id":75962,"date":"2024-01-08T00:00:00","date_gmt":"2024-01-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/"},"modified":"2024-01-08T00:00:00","modified_gmt":"2024-01-08T00:00:00","slug":"eversendai-scraps-plans-to-acquire-vahana-offshore","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/","title":{"rendered":"Eversendai scraps plans to acquire Vahana Offshore"},"content":{"rendered":"

<\/strong>Malaysian turnkey contractor <\/strong>Eversenda<\/a><\/strong> has ditched a MYR 235 mn planned acquisition <\/strong>of <\/strong>Vahana Offshore<\/a><\/strong>, according to a Bursa Malaysia disclosure<\/a> released last week. Eversenda\u2019s decision cites Vanaha\u2019s inability to obtain financing from local and international financial institutions, which had been placed as a condition for the share purchase agreement to go through. <\/p>\n

Vahana operates primarily in the Arabian Gulf: <\/strong>Vahana hosts most of its operations in the GCC, where the company operates, charters, and manages liftboats, tugs, barges, and marine vessels. Malaysia\u2019s the Edge<\/a> reported. Activities in the UAE, KSA, Kuwait, and Qatar yielded well over 99% of the firm\u2019s revenues in FY 2019, the outlet said.<\/p>\n

What acquisition? <\/strong>The agreement has been in the works<\/a> since 2020 and would have seen Eversendai fully acquire Vahana\u2019s through the issuance of new shares. <\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition has been in the works for nearly four years<\/p>\n","protected":false},"author":1,"featured_media":75963,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[137],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"92b33c5c-1140-45f9-b1d2-63ae4e2da82e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/321.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"Eversendai scraps plans to acquire Vahana Offshore","related_issue":[75950],"teaser":"The acquisition has been in the works for nearly four years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.74f91b62-ae16-44e2-9120-2dda2cdb9321.mp3"},"yoast_head":"\nEversendai scraps plans to acquire Vahana Offshore - 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