Hughes Drilling acquires JSW Australia

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”.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.