Australia's Mermaid Marine to buy Jaya offshore business for $496 mln

SYDNEY, Feb 25 (Reuters) - Australian marine logistics firm Mermaid Marine Australia Ltd MRM.AX said on Tuesday it has agreed to buy the offshore business of Jaya Holding Ltd

for A$550 million ($495.96 million) to expand its international portfolio.

Mermaid Marine Australia, which provides vessel and supply base services to offshore oil and gas explorers, will expand its scale in the Southeast Asian and Middle Eastern markets through the acquisition, the company said in a statement.

The company will fund the acquisition through a A$317 million equity raising and new debt facilities from its existing debtors, it said.

($1 = 1.1090 Australian dollars)

(Reporting by Maggie Lu Yueyang)

((maggie.luyueyang@thomsonreuters.com)(+61 2 93731819)(Reuters Messaging: maggie.luyueyang.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA MERMAIDMARINE/