Kuok to take 60%-70% stake in Drydocks' Asia ops

  • Business
  • Wednesday, 27 Jun 2012

DUBAI: Pacific Carrier Ltd., part of Malaysian tycoon Robert Kuok's empire, will take a 60% to 70% stake in its joint venture with Drydocks World's Southeast Asia business, a source close to the deal said on Wednesday.

Drydocks, which is restructuring US$2.2bil in debt and sought insolvency protection in April, said earlier it had inked the deal with Kuok Group's Pacific Carrier Ltd. for its operations based in Singapore and Indonesia. - REUTERS

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