SINGAPORE (June 13): Shares of Ezra Holdings are down 13.3% to 7.9 cents after the offshore and marine services firm announced it is selling another 10% of its stake in EMAS Chiyoda Subsea to Nippon Yusen Kabushiki Kaisha (NYK).
Ezra had earlier sold half of the stake in EMAS Chiyoda Subsea to Chiyoda Corporation, making it an equal-stakes joint venture with the Japanese company.
The deal with NYK, first announced late Friday, is expected to help the joint venture to further strengthen its presence in the Japanese and the global market, Ezra says in a new statement Monday.
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