Atlantic Esbjerg Sells Atlantic Marine Shares
KS Energy Services Limited said that its wholly owned subsidiary Atlantic Esbjerg Holding Pte Ltd has disposed of its 50% shareholding in the capital of Atlantic Marine Services Denmark BV to Atlantic Marine Services (Cyprus) Group for a total consideration of US$1 million.
The proceeds will give KS Energy additional working capital for future projects. The transaction is not expected to have any material impact on the KS’ earnings per share and net tangible assets per share for the financial year ending Dec. 31, 2006.
None of KS’ directors or substantial shareholders has any interest, directly or indirectly, in the transaction.
KS Energy, formerly known as KS Tech Ltd, is an energy services group catering to the oil and gas and petrochemical industries around the world.
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Company: Atlantic Marine Services more info
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