Japan's Nippon Yusen to invest in EMAS Chiyoda subsea services JV

Ezra Holdings

11/06/2016 03:45

SINGAPORE, June 11 (Reuters) - Japanese shipper Nippon Yusen 
Kaisha (NYK)  9101.T  has agreed to invest in EMAS Chiyoda, a 
subsea services joint venture between oilfield services firm 
Ezra Holdings Ltd  EZRA.SI  and Chiyoda Corp  6366.T , Ezra said 
in a statement late on Friday. 
    Singapore's Ezra, through its EMAS AMC subsidiary, plans to 
sell a 10 percent stake in the joint venture for $36 million, 
while engineering company Chiyoda will sell a 15 percent stake. 
 urn:newsml:reuters.com:*:nSNZ6ShtFQ 
    Once the deal is completed, Ezra will hold 40 percent of the 
joint venture, Chiyoda 35 percent, while NYK will hold 25 
percent. Ezra, one of the city-state's many oilfield service 
firms hit by a challenging market, had completed the JV 
agreement with Chiyoda in March.  urn:newsml:reuters.com:*:nSNZ6kY6MR    
    Ezra shares jumped 25 percent on Wednesday before trading 
was halted.  
 
 (Reporting By Aradhana Aravindan; Editing by Simon 
Cameron-Moore) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: EZRA NIPPON/