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Keppel Corp unit buys remaining stake in Norwegian firm OWEC Tower
KEPPEL Corporation's indirect wholly owned subsidiary, KV Ventus BV, has acquired a 50.1 per cent stake in OWEC Tower (AS) for about 2.84 million Norwegian krone.
This makes OWEC Tower a wholly owned subsidiary as KV Ventus had bought the remaining 49.9 per cent back in 2012.
OWEC Tower is a Norwegian company primarily involved in designing jacket foundations for offshore wind turbines and conducting engineering work and studies in connection with the jacket foundations.
"This cash consideration will be financed through internal working capital," Keppel added.