Ezra buys EMAS Offshore’s stake in Perisai Petroleum Teknologi

Ezra buys EMAS Offshore’s stake in Perisai Petroleum Teknologi

Ezra Holdings has agreed to buy EMAS Offshore’s 12.5% stake in Malaysia-based upstream oil & gas provider Perisai Petroleum Teknologi for $56m.

The consideration has been priced at a premium of around 500% compared to the shares’ current listing price, EMAS said in a filing today.

Perisai owns a fleet of a total of 15 oil & gas vessels and facilities employed in the exploration, development and production phases of offshore oil & gas fields.

Once the transaction is completed, Ezra and its subsidiary HCM Logistics will indirectly and directly own a total of 20.6% of Perisai, which is listed on Malaysia’s Bursa stock exchange.

EMAS acquired the 12.13% stake in Perisai in August 2013 as part of the consideration when EMAS sold its 51% stake in EMAS Victoria (L) to Perisai.

EMAS has until December 31, 2016 to sell its stake to Ezra, subject to entering into a definitive agreement, EMAS said.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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