April 12 - Through its wholly owned subsidiary Vallianz International, Vallianz Holding has acquired a 75 percent shareholding in Holmen Heavylift Offshore for USD6 million.

Following the acquisition, Holmen becomes a subsidiary of Vallianz Holdings.

Vallianz said that the net tangible asset value of the stake in Holmen was USD6.4 million based on the company's unaudited financial statement for the year ended December 31, 2015.

Based in Singapore, Holmen and its subsidiaries are principally engaged in the owning, operating and chartering of vessels.

According to media reports, Vallianz acquired a 45 percent stake in Holmen in 2014. The company is reported to own three submersible barges that are used in the transport and installation of oilfield jackets.