Ekuinas completes buyout of Tanjung’s marine vessel assets
Ekuinas, the Malaysian sovereign wealth fund, will buy the 76% of Tanjung Offshore’s marine vessel services arm it doesn’t already own for MYR220 million ($72.5 million) in cash. The asset, Tanjung Kapal Services (TKS), operates 16 offshore vessels and has two platform supply vessels currently on order.
Tanjung said in a statement cited by The Edge that it would distribute half of the proceeds to shareholders via a special dividend. In addition to the MYR200 million price tag, Ekuinas will ensure that...
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