EMAS AMC and Chiyoda complete formation of JVNews // April 4, 2016
Ezra Holdings Limited in Singapore and Chiyoda Corporation in Japan have confirmed that Chiyoda has completed its investment into Ezra’s subsea services business, EMAS AMC, to form EMAS Chiyoda Subsea, a 50/50 joint venture (JV).
The companies signed a memorandum of understanding for Chiyoda to invest in EMAS AMC in August 2015. This was followed by a binding share sale and subscription agreement on 29 September 2015.
In a statement, Ezra Holdings said that by leveraging Ezra’s and Chiyoda’s combined capabilities and global experience, the two companies hope to be able to offer clients better support and service offerings, strengthening EMAS AMC’s position in the upstream oil and gas industry, especially in the engineering, procurement, construction and installation (EPCI) segment.
Chiyoda’s engineering and project management capabilities as well as wide network of global clients, including Japanese clients, will allow EMAS Chiyoda Subsea to extend its current geographical reach, and derive synergies across the subsea value chain, including integration from concept phase to execution for EPCI projects.