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Japan/Brazil: Japan companies group to buy Brazilian shipbuilder

 |  October 22, 2013

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

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.

Full content: Seatrade Global

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