EMS ditches plans to buy equipment provider

Singapore: Offshore player EMS Energy has cancelled its plans to buy out a local equipment maker. EMS had been eyeing the acquisition of International Offshore Equipments, but in a release to the Singapore Exchange the company said the deal was off and a proposed rights issue would also be adjusted accordingly to take into consideration the termination of the acquisition. No reason was given for the change of plan.  [06/08/14]

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