Analysts see light at the end of the tunnel amid Ezion’s AusGroup loan capitalisation

SINGAPORE (June 1): Offshore vessel operator Ezion Holdings has agreed to capitalise a A$39.3 million ($40.6 million) loan to its 17.8% subsidiary AusGroup Holdings in exchange for new shares in the company.

That could raise Ezion's stake in AusGroup to between 20% and 29.9%.

Ezion divested its Australian port and marine assets to AusGroup for $55 million in 2014 as part of a wider push to expand its range of projects without pressuring its own balance sheet too much.

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