$YZJ Shipbldg SGD (BS6.SG)$ Yangzijiang Shipbuilding has ent...
$YZJ Shipbldg SGD (BS6.SG)$ Yangzijiang Shipbuilding has entered into a joint venture agreement with Japanese conglomerate Tsuneishi Holdings to acquire a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding (TZS) through a private share allotment.
The consideration is set to be wholly satisfied in cash and will be funded from the group’s internal resources. Upon completion of the share allotment, TZS will become an associated company of Yangzijiang Shipbuilding.
Ren Letian, executive chairman and CEO of Yangzijiang Shipbuilding, says: “This new joint venture will bring together our strengths in research and development, shipbuilding, and supply chains. By combining our expertise, we’ll advance the latest shipbuilding technologies, enhance efficiency, and achieve great results together."
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