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Bhagwan Marine Limited (ASX:BWN)

ALERT: Price-sensitive ASX Announcement for BWN
Current share price for BWN : $0.295 -0.105 (-26.25%)+
Announcement
Release
31 Mar 2026 5:56PM
Price at Release
$0.400
Full Release
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Summary
Bhagwan Marine Limited has completed the acquisition of Riverside Marine Holdings Pty Ltd for an enterprise value of up to $130 million, enhancing its growth strategy by diversifying services and expanding geographically. The cash consideration of $100 million was partly funded by equity raising and a debt facility. The acquisition is expected to strengthen Bhagwan's operations and revenue base with Riverside's capital-light model and long-term contracts. This strategic move aligns with Bhagwan's aim to scale operations through targeted acquisitions, as stated by its Founder and Managing Director Loui Kannikoski.
Key Points
  • Completion of acquisition of Riverside Marine by Bhagwan Marine.
  • Enterprise value of acquisition is up to $130 million.
  • Cash consideration of $100 million paid on completion.
  • Partly funded by equity raising and debt facility.
  • Enhances Bhagwan's service offering and geographic diversification.
  • Expected to enhance free cash flow and sustainable earnings.
  • Bhagwan issued 48.8 million shares as part of the deal.
  • Consideration includes a linear earn-out based on Riverside's EBITDA.
  • Targeted acquisitions are key to Bhagwan's growth strategy.
  • Acquisition aligns with corporate strategy to scale operations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.