Independent journal on economy and transport policy
15:14 GMT+1
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Premuda announces the constitution of joint venture with Yinson Heather that will acquire unit FPSO Four Rainbow
It will have center to Singapore
July 30, 2015
The Italian shipowning society Premuda has announced that the controlled society Four Vanguard Serviços and Navegaçao LDA (FVSN) has undersigned today an agreement with the malaysian Yinson Heather Ltd (YHL), society entirely controlled from Yinson Holdings Berhad, quoted near the "Main Board of Bursa Malaysia Securities", in order to currently constitute joint venture that unit FPSO Four Rainbow will acquire, of FVSN property. Premuda has specified that the effectiveness of the agreement is subordinated to the respect of some suspensory conditions and that once that the agreement will be effective the main terms of the operation will be disclosed.
Joint venture will be constituted in the third trimester of this year to Singapore and its main activities will be the employment of the FPSO and the services of management for the same one. Joint venture will have as business the presentation of the Four Rainbow as potential candidate for some oil fields not important dimensions mainly in West Africa and the Asian south-east.
Once satisfied the suspensory conditions, YHL will have a call option in order to acquire from FVSN the entire share capital of joint venture and FVSN will have an option put in order to yield to YHL the entire participation stopped in joint venture.
Premuda has specified that joint venture is online with own industrial and financial plans and strengthens the perspectives of investment in field FPSO through this alliance with the Yinson group, one of the greater world-wide players in this field.
Premuda has entered in field FPSO in 2001 adding to the supply of services for the oil industry to own Core business of the marine transport through its cisterniera fleet of ships and ships to rinfusiere.
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The Italian shipowning society Premuda has announced that the controlled society Four Vanguard Serviços and Navegaçao LDA (FVSN) has undersigned today an agreement with the malaysian Yinson Heather Ltd (YHL), society entirely controlled from Yinson Holdings Berhad, quoted near the "Main Board of Bursa Malaysia Securities", in order to currently constitute joint venture that unit FPSO Four Rainbow will acquire, of FVSN property. Premuda has specified that the effectiveness of the agreement is subordinated to the respect of some suspensory conditions and that once that the agreement will be effective the main terms of the operation will be disclosed.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
