Vard buys PJMR stake in Vard Promar shipyard

Vard Holdings announced the acquisition of the control of the Vard Promar shipyard, located in Pernambuco, and acquired a 4.85% stake in PJMR (Ariovaldo Rocha, president of Sinaval). The value of the transaction is R $ 5.5 million.

The Vard group, controlled by Italian state-owned company Fincantiere, will now have 100% control of the local shipyard that has gas vessels and maritime support vessels under construction for Transpetro and DOFcon.

The transaction was settled at R $ 5.5 million. The valuation is based on previously agreed call options relating to the previous increase in the stake of Vard Promar SA, announced on 5 August 2016.


Source: Oilpubs.com, by Ivens Consult

Categories: Uncategorized

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