Vantris Energy, formerly known as Sapura Energy, has divested its 40% equity stake in L&T-Sapura Shipping to joint-venture partner Larsen & Toubro for total consideration of about $30.5 million, as part of
Vantris Energy, formerly known as Sapura Energy, has divested its 40% equity stake in L&T-Sapura Shipping to joint-venture partner Larsen & Toubro for total consideration of about $30.5 million, as part of a broader portfolio optimization strategy.
The transaction includes equity consideration as well as the full repayment of an outstanding shareholder loan and accrued interest owed to Vantris Energy. The divestment was executed through the group’s indirect wholly owned subsidiary Sapura Nautical Power, based in Singapore.
L&T-Sapura Shipping owns and operates the LTS3000, a heavy-lift and pipelay vessel. Following the transaction, Larsen & Toubro will hold full ownership of the company.
Vantris Energy said the move reflects its ongoing efforts to streamline and strengthen its asset base, sharpening its focus on core capabilities and wholly owned assets that support long-term value creation.
“This divestment is another step forward in reshaping Vantris Energy into a more focused, agile and financially resilient organization. As we realign our portfolio, we are steering capital and attention towards the businesses, assets, and regions where we can compete with strength and deliver sustainable value,” said Zamri Jusoh, Vantris Energy’s Chief Executive Officer.
Net proceeds from the sale will be used to support operational requirements within
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