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EMAS Offshore receives proposals from potential White Knight investors but no deal signed as yet

PC Lee Published on Fri, Sep 01, 2017 / 11:00 PM GMT+8

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SINGAPORE (Sept 1): EMAS Offshore said it has received various proposals from potential investors after initiating restructuring proceedings this week.

In addition, EMAS said out of the proposals received, it has entered into a binding term sheet with certain unrelated “White Knight” investors in connection with a potential cash investment.

EMAS is a majority-owned unit of troubled offshore services firm Ezra Holdings, which has filed for Chapter 11 bankruptcy protection.

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