EOC to take ownership of two OSVs from KMPL

Singapore’s EOC Limited has agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd., a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd. (KMPL).

In its press release, EOC said that the completion of the acquisition is scheduled to take place on or around 28 August 2014.

Prior to the acquisition, Lewek Antares Shipping Pte. Ltd was jointly owned by KMPL and Ezra Holdings Limited (“Ezra”) , in a 50-50 proportion.

Upon completion of the acquisition and post completion of the Proposed Business Combination , Lewek Antares Shipping will be 100%-owned by the enlarged EOC Group.

The consideration for the 50% stake in Lewek Antares Shipping is approximately US$18.3 million, payable to KMPL upon completion. EOC said it would borrow the money for the transaction from banks.

Lewek Antares Shipping Pte. Ltd. owns 2 offshore support vessels, namely the Lewek Atria, a 3,266 dwt platform support vessel, and the Lewek Antares, a 2,900 dwt with 60-ton crane multi- purpose service vessel, which are chartered to customers.

Lewek Atria

EOC also recently announced the acquisition of two newbuild accommodation vessels and an accommodation and support vessel.

“These acquisitions are in line with EOC’s growth strategy of focusing on the growing accommodation and offshore support services sectors,” a statement by EOC reads.

 August 28, 2014; Image: EMAS

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply