Singapore-listed NCL will pay around $30.7m for its share holding in the Indonesian-listed offshore vessel operator.
BBR, which is a subsidiary of Singapore’s Marco Polo Marine (MPM), will issue 1.6bn new shares at IDR 230 each (1.8 US cents).
MPM will renounce its rights entitlements to subscribe for new BBR shares in favour of NCL.
Upon the completion of the rights issue, MPM will remain the single largest shareholder of BBR with a stake of about 34.8%.
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