Tsuneishi Shipbuilding has reached a agreement to acquire a stake in compatriot Mitsui E&S Shipbuilding as the pair seek ways to merge their merchant shipbuilding activities.
In separate statements, the Japanese shipbuilders said they will now enter into negotiations on the share acquisition and developing their existing cooperation pact. The volume of shares under discussion has not been disclosed.
The pair hope to come to an agreement by the end of this year and complete the transaction by October 2021.
