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 Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Barril Appointed COO of SBM Offshore

SBM Offshore is pleased to announce the appointment of Philippe Barril as Chief Operating Officer (COO) effective March 1, 2015.  Philippe's appointment as a

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1357 sec (7 req/sec)