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Ezra Holdings Establish 50:50 Joint Venture With Chiyoda Corporation in Subsea Services
Daily Bulletin | 28 August 2015
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Ezra Holdings has announced an agreement with Chiyoda Corporation for a proposed 50:50 joint venture company, NewCo, in the subsea services business.

Prior to the completion of transaction, Ezra will restructure its ownership of its subsea services business such that its subsea services business will be held under NewCo.

Chiyoda Corporation has agreed to acquire, by a combination of purchased shares of NewCo from Ezra with a consideration of US$150 million, as well as new issued shares by NewCo to Chiyoda with consideration of US$30 million, totalling to 50 percent ownership of NewCo.

NewCo, which will be incorporated in England and Wales, will be able to leverage Chiyoda’s technical expertise, global experience, supply chain management capabilities and coverage to enhance its capabilities in delivering and managing large and complex projects.

Ezra Hldgs  -- -- --   
Business: Co is a provider of integrated offshore solutions to the oil & gas industry. [FY16 Turnover] Marine Services (68.9%), offshore support and production services (25.7%), subsea services (5.4%).

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