Sembcorp Marine takes full control of PPL Shipyard

AUGUST 23, 2016 — Singapore’s Sembcorp Marine Limited is to take 100% ownership of its PPL Shipyard. It has reached an agreement with PPL Holdings Pte Ltd and E-Interface Holdings Limited to acquire the remaining 15% in the issued and fully paid-up share capital of PPL Shipyard Pte Ltd for an aggregate cash consideration of US$115,058,934.

E-Interface Holdings Limited is a wholly owned subsidiary of PPL Holdings. China’s Yangzijiang Shipbuilding (Holdings) Ltd. owns 45% of PPL Holdings.

Sembcorp Marine says that having full control of PPL Shipyard “will enable the company to optimally manage the businesses, finance and resources of PPLS, and fully align the latter’s corporate strategies to the company to generate sustainable returns.”