Japan’s Sanoyas Holdings is to sell its shipbuilding business to compatriot Shin Kurushima Dockyard.
The sale price is understood to be a nominal ¥1m ($9,600) but involves the transfer of about ¥4bn ($38.6m) of existing bank debt to Shin Kurushima.
Both parties have agreed to complete the deal on 15 January, subject to approval from the competition authorities.
