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Japan/Brazil: Japan companies group to buy Brazilian shipbuilder

By  |  October 22, 2013

Five Japanese companies have formed a consortium to acquire a stake in Brazil-based shipbuilder Ecovix Engevix Construcoes Oceanicas, say reports.

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    The group is lead by Mitsubishi Heavy Industries and includes Oshima Shipbuilding and Mitsubishi Corporations. The group reportedly signed an agreement in Tokyo to acquire a 30 percent stake in the Brazilian firm as part of efforts to expand Japanese presence in the Brazilian market with advanced technology.

    Financial details for the deal were not disclosed.

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