Hydraiki Naval Company agreed to acquire 10.32% stake in ALAS International Holdings, Inc. (OTCPK:VDSC) for $12.5 million in cash on April 25, 2013. Under the terms, Hydraiki agreed to acquire 25 million shares. The consideration is subject to certain adjustments.

Hydraiki Naval Company completed the acquisition of 10.32% stake in ALAS International Holdings, Inc. (OTCPK:VDSC) on June 25, 2013.