Vantris Energy Berhad announced the divestment of its 40 percent equity interest in L&T-Sapura Shipping Pvt. Ltd. (“LTSSPL”) which owns and operates the LTS3000 heavy-lift and pipelay vessel, to its joint-venture partner, Larsen & Toubro Limited (“L&T”), for a total consideration of approximately USD 30.5 million (“Proposed Disposal”). The amount consists of equity consideration and the full repayment of the outstanding shareholder’s loan and accrued interests owed to the Group.
The transaction was executed through the Group’s indirect wholly owned subsidiary, Sapura Nautical Power Pte Ltd (Singapore).
This move marks another step in Vantris Energy’s ongoing efforts to streamline, strengthen, and optimise its asset portfolio, as the Group continues to sharpen its focus on core capabilities and wholly owned assets that support long-term value creation.
Group CEO Muhammad Zamri Jusoh said the divestment aligns with the organisation’s transformation priorities.
“This divestment is another step forward in reshaping Vantris Energy into a more focused, agile and financially resilient organisation. As we realign our portfolio, we are steering capital and attention towards the businesses, assets, and regions where we can compete with strength and deliver sustainable value”, he said.
The net proceeds from the Proposed Disposal will be utilised for operational requirements for the Company’s Engineering & Construction (“E&C”) and Operations & Maintenance (“O&M”) businesses.
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.
Source: Vantris Energy Berhad
