Completion of Disposal of Interest in COSCO Shipyard Group Co., Ltd
Singapore, January 30, 2017: Further to the announcement made on 15 November 2016 in relation to the disposal of shares in Cosco Shipyard Group Co, the Company wishes to inform that the relevant Chinese regulatory authorities have approved the sale of shares in CSG to COSCO and a new Foreign-Investment Enterprise Certificate has been issued. Parties will finalize payment arrangements within the stipulated time under the sale and purchase agreement, expected to be completed by 1Q2017.
By order of the Board
Tan Yah Sze
About Sembcorp Marine
Sembcorp Marine provides innovative engineering solutions to the global offshore and marine industry, drawing upon more than 50 years of track record. We focus on four key capabilities, namely, Rigs & Floaters; Repairs & Upgrades; Offshore Platforms; and Specialised Shipbuilding.
Our customers include major oil companies, drilling contractors, shipping companies as well as owners and operators of floating production units.
We operate shipyards strategically located in Singapore, India, Indonesia, the United Kingdom and Brazil.
Discover more at www.sembmarine.com.
For further information, please contact:
Ms Lisa Lee
Head of Investor Relations
Tel No : 65-62627107
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Mr David Wong
Head of Corporate Communications
Tel No : 65-62628036
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