Baker Technology says it has accepted the offer by Yangzijiang Shipbuilding Holdings to buy the entire issued and paid-up share capital of PPL Shipyard held by the company for US$155 million ($212.8 million).

However, Baker Tech says it has received a letter yesterday from Sembcorp Marine’s lawyers demanding that the company not accept the offer. SembMarine is the owner of 85% interest in the capital of PPL Shipyard.

In its letter, SembMarine alleged that any sale of the shares of PPL Shipyard to Yangzijiang by Baker Tech would be made without giving SembMarine a first right of refusal over the sale.

Baker Tech says it has sought and received legal advice that SembMarine has no basis for its claims.