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Udenna drops lifeline for Emas

Udenna’s exit was disclosed five months after its $73.3m rescue financing deal with Emas, the offshore support vessel unit of insolvent Ezra Holdings, was first announced. This marked a second blow to Emas’ restructuring efforts after talks with Baker Technologies over a lifeline fell through last year

Filipino conglomerate decided not to proceed with a $73.3m transaction that anchored Emas’ restructuring proposal

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