Seaspan’s rescue of Swiber falls through
The preconditions for the deal were not met by the deadline of December 31, 2019 and the two parties agreed not to extend the deadline. As a result, the equity investment agreement has been terminated
A key element of the deal was a $1bn liquefied natural gas-to-power project that Swiber was pursuing in Vietnam, which now appears not to be fulfilled
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