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Emas agrees to settle put option fight with Malaysian associate Perisai

It will pay up for 51% SJR stake if several conditions are met within a certain time limit

Published Fri, Dec 23, 2016 · 09:50 PM

Singapore

OILFIELD services provider Emas Offshore has settled a dispute with its Malaysian associate, Perisai Petroleum Teknologi Berhad, over a put option Perisai has exercised to oblige Emas to shell out US$43.03 million to buy over Perisai's entire 51 per cent stake in the two companies' joint venture, SJR Marine.

To settle the dispute fully and finally, Emas agreed on Friday to pay up …

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