MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
Reliance Ethane Holding Pte. Ltd. (“REHPL”), having 100% holding in six limited liability companies (LLCs) which own Very Large Ethane Carriers (“VLEC”), Mitsui O.S.K Lines Ltd. (“MOL”) of Japan and a strategic minority investor have signed agreements for a strategic investment by MOL and minority investor in the six special purpose limited liability companies, each owning a VLEC. Transaction closing is subject to regulatory approvals.
About Mitsui O.S.K. Lines
MitsuiO.S.K.Lines,Ltd (MOL), one of the largest shipping companies in the world, celebrating its 135th anniversary, provides ocean shipping services internationally. It owns and operates a fleet size of over 850 vessels and is also the largest LNG carrier in the world. MOL’s fleet also includes other tankers, drybulkers, car carriers, ferries and coastal RoRo ships and cruise ships. MOL also own containerships which are chartered by ONE. MOL is listed onTokyoStock Exchange and has a market capitalisation of about US$2.8bn.