Malaysian offshore services company Vantris Energy, formerly known as Sapura Energy, has divested its 40% interest in L&T-Sapura Shipping, the owner and operator of the LTS 3000 heavy-lift and pipelay vessel.
The stake was sold to its joint-venture partner Larsen & Toubro for approximately $30.5m. The amount consists of equity consideration and the full repayment of the outstanding shareholders’ loan and accrued interests owed to the company.
Vantris Energy stated that this 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 the 2010-built vessel, Vantris Energy has four heavy-lift and pipelaying vessels remaining in its fleet, all of which are wholly owned.
The company owns and operates a total of twelve offshore construction vessels and barges capable of shallow and deep-water transportation, as well as installation and subsea services.
