Keppel Corp Increases Stakes in O&M

Tuesday, February 07, 2006
Keppel Corporation Limited increased its stake in Norway's Offshore & Marine ASA to 61.87%. The deal was executed through Keppel Corp's wholly owned subsidiary FELS Offshore, which bought a total of 1,648,000 O&M shares from Norestraen Industrier AS and Norestraen Investering AS for a total cash consideration of $448,000. The book value of the O&M shares was approximately $297,913 as at Dec. 31, 2005, but the deal took into account the future business prospects of O&M and was done on a willing buyer and willing seller basis. Through the acquisition, FELS' shareholding in O&M will increase to 6,960,500 shares - representing 61.87% of the issued share capital - from 5,312,500 shares, which represented 47.22% of the issued share capital. The transaction is not expected to have any material impact on its earnings per share and net tangible assets for the current financial year.

(Source: Yahoo!)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0805 sec (12 req/sec)