Ezra Holdings, Chiyoda Corporation and Nippon Yusen Kabushiki Kaisha (NYK) jointly announced that the three parties have entered into a binding agreement for NYK to invest in EMAS Chiyoda Subsea (ECS).
ECS is a global EPCIC (Engineering, Procurement, Construction, Installation and Commissioning) service provider of comprehensive subsea-to-surface solutions throughout the lifecycle of oil and gas projects.
ECS is currently a 50:50 joint venture company owned by Ezra and Chiyoda. Through the acquisition of shares from Ezra and Chiyoda, NYK will own 25% of ECS, with Ezra and Chiyoda retaining 40% and 35% shareholding, respectively, upon completion of the transaction.
While the addition of Chiyoda’s complementary expertise added depth and breadth to ECS’ operational offerings when it was completed in March 2016, NYK’s participation is expected to augment the collective know-how and expertise in global expansion strategies, harnessed through NYK’s 130-year experience in ship management and operation.
Tadaaki Naito, President, President Corporate Officer of NYK, says, “I am delighted that we can offer another range of service in offshore segment by joining into ECS. With reliable partners, I believe this opportunity would create strong alliance and I am excited that we would be able to contribute to worldwide offshore development, including that in our home country.”
Ezra shares last traded at 9 cents.
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ECS is a global EPCIC (Engineering, Procurement, Construction, Installation and Commissioning) service provider of comprehensive subsea-to-surface solutions throughout the lifecycle of oil and gas projects.
ECS is currently a 50:50 joint venture company owned by Ezra and Chiyoda. Through the acquisition of shares from Ezra and Chiyoda, NYK will own 25% of ECS, with Ezra and Chiyoda retaining 40% and 35% shareholding, respectively, upon completion of the transaction.
While the addition of Chiyoda’s complementary expertise added depth and breadth to ECS’ operational offerings when it was completed in March 2016, NYK’s participation is expected to augment the collective know-how and expertise in global expansion strategies, harnessed through NYK’s 130-year experience in ship management and operation.
Tadaaki Naito, President, President Corporate Officer of NYK, says, “I am delighted that we can offer another range of service in offshore segment by joining into ECS. With reliable partners, I believe this opportunity would create strong alliance and I am excited that we would be able to contribute to worldwide offshore development, including that in our home country.”
Ezra shares last traded at 9 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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