EIG Names Keppel as Defendant in U.S. Court Case Against Petrobras
Singapore's Keppel Corp. Ltd. reported Thursday that EIG Management Co. and eight of its managed funds (EIG) have added several companies, including the company and its subsidiary Keppel Offshore & Marine Ltd., as defendants to an action commenced by EIG against Petroleo Brasileiro SA in the United States District Court, District of Columbia.
EIG alleged that the defendants participated in an unlawful conspiracy to induce the firm to invest over $221 million in Sete Brasil Participacoes SA.
"Keppel denies these baseless allegations and will vigorously defend the action," the company said in a press release, adding that it will provide further updates as appropriate.
On May 25, Sembcorp Marine Ltd., another Singapore shipyard, issued a statement about the EIG allegations which was mentioned in a media report, saying that they are "entirely without merit and baseless."
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Murphy Oil and Petrobras to Form Gulf of Mexico JV (Oct 11)
- Offshore Brazil Contract Extension Goes to Transocean (Sep 28)
- Union: Petrobras Plans To Start Reopening Replan Refinery In 48 Hours (Aug 22)
Company: Sembcorp Marine more info
- Singapore's Sembcorp Marine 1Q Profit Slumps 86%, Outlook Subdued (Apr 25)
- Rig Builder Sembcorp Marine 2Q Net Profit Falls 51% (Jul 27)
- Asia Oil, Gas Layoffs Mount as Industry Recovery Stays Elusive (Sep 08)
Company: Keppel Corporation Ltd. more info
- Singapore's Keppel Posts Lower 2Q Profit, Says Rig Market Outlook Muddy (Jul 20)
- Singapore's Keppel To Buy New Bonds Of Struggling KrisEnergy (Nov 03)
- Brazilian Government Plans to Open Talks with Keppel, Sembcorp Marine (Sep 05)