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Japan's NYK to take 25% stake in Emas Chiyoda Subsea

Ezra will sell 10% for US$36m, leaving it with 40%; Chiyoda will be left with 35% after disposal of 15%

Published Mon, Jun 13, 2016 · 09:50 PM

Singapore

JAPANESE shipping giant Nippon Yusen Kabushiki Kaisha (NYK) is acquiring a 25 per cent stake in Emas Chiyoda Subsea (ECS) from the existing 50-50 joint-venture partners Ezra Holdings and Chiyoda.

Of the 25 per cent stake that NYK is acquiring, 10 per cent will come from Singapore-listed Ezra, which holds its interest through wholly owned subsidiary Emas AMC. The other 15 per cent will come from Chiyoda, a Japanese contracting group.

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