SINGAPORE (June 28): Sembcorp Marine has acquired a 50% stake in KANFA Aragon AS for NOK 20 million ($3.2 million) from Sevan Marine ASA.

Aragon is a process design and engineering company that serves the offshore oil and gas industry, and provides solutions for the floating production, storage and offloading (FPSO) market.

In addition, SembMarine will enter into a joint venture agreement with Holding KA AS, a company formed by the existing management and employee shareholders of Aragon that holds the remaining 50% shares.

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