Penta-Ocean to invest in Singapore's Koh Brothers Eco Engineering

Economy

Japanese marine contractor Penta-Ocean Construction Co. will invest S$38.07 million (US$28 million) in industry peer Koh Brothers Eco Engineering Ltd. to strengthen its business in Singapore. Penta-Ocean will purchase all 810 million new shares to be issued by Ko Brothers Eco Engineering through third-party allotment, with the acquisition date set for May 28, the Tokyo-based company said in press release on Monday. The deal will make Penta-Ocean the second-largest shareholder of Ko Brothers Eco Engineering with an equity stake of somewhere between 25.06 and 28.84 percent, depending on how outs...

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