The restructuring of heavily indebted Singapore OSV owner EMAS Offshore is contingent on its retaining its primary Oslo listing, it has revealed.
The company is continuing to work together with its advisers, creditors and key bank lenders to ensure a vital refinancing.
White knight BTI, a subsidiary of BakerTechnology, is looking to invest up to $50m in the company in return for a majority stake under a term sheet signed in early December.
