Home > Hughes Drilling acquires JSW Australia

Hughes Drilling acquires JSW Australia

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Hughes Drilling has acquired fellow drilling contractor JSW Australia.

The companies entered into a share sale agreement, which will see Hughes take 100% of JSW shares, approximately 25 855 577 shares for $0.26 per share, equating to a buy price of $6.73 million.

The sale will be completed on 3 October.

Speaking a company statement, Hughes Drilling said "the acquisition will bring together two of Australia's leading drilling contractors, providing service, sector, geographic, and commodity expansion to Hughes and JSW".

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