Singapore: Ezra Holdings has moved quickly to quash talk of a takeover of the Singapore offshore firm by Korean shipbuilding giant Samsung Heavy Industries.
In response to an article published in a Norwegian industry newspaper and a CIMB analyst report, Ezra stated that it was “not aware of nor has it been engaged on the subject of a takeover of the Company by SHI” and it would remain focused on its strategy to grow its subsea business.
The reports had claimed that “Industry sources have reported that Samsung Heavy Industries has failed to obtain its management’s approval for an acquisition of Ezra” which was supposed to help Samsung Heavy move into the subsea market. [27/08/13]
