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Ihi Corp to Establish Special Purpose Company for Acquisition of Stake in Estaleiro Atlântico Sul S.A.
Ihi Corp announced that it will establish a special purpose company JAPAN EAS INVESTMENTOS E PARTICIPAÇÕES LTDA in Brazil with two other companies JGC Corporation and Japan Marine United Corporation in late June 2013. The Company will hold a 60.448% stake in the special purpose company, JGC Corporation will hold a 24.627% stake and Japan Marine United Corporation will hold a 14.925% stake. Through the special purpose company as its subsidiary, the Company will acquire 461,738,953 shares (a 25.094% stake) in Estaleiro Atlântico Sul S.A., which is engaged in design, manufacture and sale of vessel and marine floating structures in Brazil, for BRL 203,468,000 in total in July 2013 and will hold a 25.094% stake in Estaleiro Atlântico Sul through the subsidiary.
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