Deals
Nippon Yusen to Buy Knutsen Stake for Shuttle Tankers
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Nippon Yusen K.K. will buy a 50 percent stake in Knutsen Offshore Tankers ASA to expand into deep-sea oil transport in countries including Brazil.
Japan’s largest shipping line didn’t say in an e-mail today how much it will pay for the holding in the world’s second-biggest operator of ships that shuttle oil to storage on land. The Tokyo-based company may spend about 20 billion yen ($239 million) for the stake, the Nikkei newspaper reported.