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You are here: Home → Archive → 2010 → April → Weekly Edition 22nd April 2010 → Chinese yard eyes stake in Singapore rigbuilder

Chinese yard eyes stake in Singapore rigbuilder

by Hui Ching-hoo, Hong Kong — last modified Apr 23, 2010 02:52 PM

SINGAPORE-listed Chinese shipbuilder Yangzijiang Shipbuilding, together with an undisclosed Middle East investor, plans to buy an indirect stake of as much as 50.1% in Singapore-based rigbuilder PPL Shipyard at a cost of US$155m, in an effort to venture into the offshore engineering market.

The Jiangsu-based shipyard has made an offer to oil and gas equipment and services provider Baker Technology to acquire the entire share capital of Baker Technology’s fully-owned vehicle, PPL Holdings.
PPL Holdings owns a 15% stake in PPL Shipyard. The...

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