Rig Tenders closing in on parent company's units takeover
Friday, April 13 2012 - 09:03 AM WIB
Scomi Group Bhd is moving one step closer to exercising its restructuring plan which will allow the takeover of three wholly owned units by its Indonesian subsidiary PT Rig Tenders Indonesia.
The Group announced in a statement that it has just completed the proposed disposal for the program to take place.
The proposed disposal was by Scomi Marine Services Pte Ltd (SMS) to Rig Tenders Indonesia (PTRT), a 80.54 percent-owned subsidiary of SMS. The three companies to be taken over are CH Logistics Private Limited, CH Ship Management Private Limited and Grundtvig Marine Private Limited.
The exercise, which is worth US$57 million, is in line with Scomi Marine's announcement in March to restructure their businesses in a bid to create a larger and more integrated upstream service provider.
Editing by Er Audy Zandri