<div class=newsTextDataWrapInner><p>SINGAPORE (Jan 7): Vallianz Engineering (VEL), a wholly-owned subsidiary of&nbsp;Vallianz Holdings, has acquired two new built vessels for US$21.8 million ($31.2 million).</p></div>

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<div>Vallianz will pay for the vessels via&nbsp;the issuance of&nbsp;70.5 million&nbsp;shares in&nbsp;Vallianz at 44.3 cents apiece, or US$2.2 million and a&nbsp;cash consideration of US$19.6 million.</div>
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<div>Vallianz says the acquisition is in the ordinary course of business and is part of its strategy to support its ongoing business.</div>

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<div>The company does not expect the acquisition to have any material impact net tangible assets per share, earnings per share and operating results in the current financial year.</div>

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<div>Vallianz closed Wednesday at 4.4 cents, down 0.1 cent or 2.2%.</div>


SINGAPORE (Jan 7): Vallianz Engineering (VEL), a wholly-owned subsidiary of Vallianz Holdings, has acquired two new built vessels for US$21.8 million ($31.2 million).


Vallianz will pay for the vessels via the issuance of 70.5 million shares in Vallianz ...

Vallianz unit buys two vessels for $31.2 million

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