NYK has completed a deal that will see it break into the subsea sector with a 25% stake in EMAS Chiyoda Subsea (ECS).

The Japanese giant has acquired a 10% stake from Ezra Holdings-controlled EMAS AMC and a 15% stake from Chiyoda Corp.

ECS, which controls nine offshore construction vessels (OCVs) and large pipe-layers, was formed in March when Chiyoda Corp paid $180m to Ezra for a 50% stake in subsea contractor EMAS AMC.

The