Sembcorp Marine has splashed out $115m to take full control of PPL Shipyard in Singapore.
Singapore-listed Yangzijiang Shipbuilding said its PPL Holdings joint venture has sold its 15% stake in the yard to the Sembcorp subsidiary, which already owned the remaining 85%.
Yangzijiang said its financials will get a $51.8m boost from the realisation of its investment in PPL, which specialises in building jackup rigs.
Proceeds
