Vantris Energy Berhad, formerly known as Sapura Energy Berhad, has divested its 40% equity interest in L&T-Sapura Shipping which owns and operates the LTS3000 heavy-lift and pipelay vessel, to its joint-venture partner, Larsen & Toubro Limited, for a total consideration of approximately $30.5m.
According to Vantris Energy, the amount consists of equity consideration and the full repayment of the outstanding shareholder’s loan and accrued interests owed to the Group.
Vantris Energy stated that this move was another step in its ongoing efforts to streamline, strengthen, and optimise its asset portfolio, as it focuses on core capabilities and wholly owned assets.
Following the divestment of its stake in LTS3000, Vantris Energy has four heavy-lift and pipelaying vessels remaining in its fleet, all of which are wholly owned.
The Group owns and operates a total of twelve offshore construction vessels and barges under its Engineering & Construction arm, capable of shallow and deep-water transportation and installation and subsea services.
