In a further move as part of its transformation strategy, Vantris Energy has completed the sale of its 40% stake in L&T-Sapura Shipping Pvt. Ltd. (LTSSPL) to its joint venture partner, Indian conglomerate Larsen & Toubro (L&T), for approximately $30.5 million. <\/p>\n\n
This operation, carried out through Sapura Nautical Power Pte Ltd<\/a><\/strong>a wholly-owned subsidiary based in Singapore, includes both the transfer of shares and the repayment of the outstanding loan that LTSSPL had with Vantris Energy.<\/p>\n\n The key asset in the transaction is the LTS3000, a heavy-lift vessel heavy lift and pipelay vessel<\/strong><\/a> and pipelaying vessel that will now come under full L&T control. This vessel represents a strategic asset for offshore infrastructure operations in Asia. <\/p>\n\n Since its rebranding, Vantris Energy (formerly Sapura Energy) has moved forward with a restructuring plan focused on consolidating wholly owned assets. Group CEO Muhammad Zamri Jusoh said the sale is part of an ongoing process to create a leaner and more financially sound organization. <\/p>\n\n The net proceeds will be channeled to the areas of Engineering and Construction, as well as Operations and Maintenance, with the objective of strengthening key operational capabilities.<\/p>\n\n Following the divestiture, the company retains a fleet of four heavy lift and pipe-laying vessels, all under full group control. In total, Vantris Energy operates twelve offshore vessels, including ships and barges, for deepwater projects. projects in deep and shallow waters.<\/a><\/strong> and shallow water projects. <\/p>\n\n With this move, the group reaffirms its commitment to focus on high-yielding assets and markets where it can maintain sustainable competitive advantages.<\/p>\n\n The Asian region continues to be a relevant axis in Vantris Energy’s strategy. The exit from the joint venture does not imply a withdrawal from the region, but rather an adjustment in the operating and investment structure, aligned with a long-term vision. <\/p>\n\n The sale of its stake in LTSSPL represents a further move in the corporate realignment process being promoted by the Malaysian group in its new business phase.<\/p>\n\nA transformation focused on strategic assets<\/h2>\n\n
Optimized fleet and total control over offshore vessels<\/h2>\n\n
Asia, a strategic geographic focus<\/h2>\n\n