Completion of Divestment of Interest in a Joint Venture Company
Singapore, 23 October 2019 – Sembcorp Marine Ltd (“SCM”) refers to its announcement dated 9 October 2019 in relation to the divestment of 50% shareholding interest in Pacific Workboats Pte Ltd (“PWPL”) by Dolphin Shipping Company Pte Ltd.
SCM is pleased to announce that the said divestment has been completed. The consideration for the divestment was satisfied in cash by PACC Offshore Services Holdings Ltd at completion.
Following the aforesaid completion, PWPL has ceased to be a joint venture company of SCM.
For the PDF version of this announcement, please click here.