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Latest Hughes Drilling News
Dec 9, 2016
facebook twitter linkedin google+ print Three years after completing a management buy-out, JSW Australia directors Jeff Branson and John Silverthorne have struck an agreement to sell their debt-laden drilling business; but they won’t be getting any cash from the deal. Brisbane-based Hughes Drilling will issue $7 million worth of shares to the JSW shareholders and retain $17.4 million of existing debt, to make up the total acquisition price of $24.4 million. JSW Australia was established in 2010 through a management buy-out from Ausdrill , which had acquired the business as part of its purchase of Brandrill a few months earlier. To read more, please Login or Register below Login