Brief: SBM Offshore divests stake in Turritella project

Mitsuba

15/07/2015 17:05

July 15 (Reuters) - SBM Offshore NV  SBMO.AS : 
    * Divests stake in Turritella project 
    * Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki 
Kaisha  (NYK Line) to buy stake in the joint venture companies 
incorporated for the purpose of owning and operating FPSO 
Turritella 
    * Partners' cash contribution to Turritella joint venture  
companies is expected to total about $590 million, with the 
first milestone payment of $446 million received. Future 
milestone payments will follow the stages of completion of the 
project. 
    * Mitsubishi Corporation (30 pct interest) and NYK Line (15 
pct interest) have acquired a 45 pct combined stake in the joint 
venture companies 
 
Source text for Eikon:  ID:nHUG9dWPNf  
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