General – Divestment
Singapore-headquartered Seatrium has entered into a binding agreement with Brazilian vessel operator, Posidonia Shipping and Trading to sell 100% equity interest in its indirect wholly-owned subsidiary, Guanabara Navegação.
GNL is a special-purpose vehicle that owns two platform supply vessels. The total consideration for the sale of GNL is US$59.7 million (approximately S$77.4 million1).
This accretive divestment aligns with the Group’s strategic intent to divest non-core assets, enhancing capital and operational efficiencies and creating long-term value for its shareholders.
No operational impact is expected to arise from such a sale. The transaction is expected to be completed before the financial year ends.
