From the Star – Boustead buys 51 pct stake in MHS Aviation


Does MHS feel challenged by other comers into the offshore O&G aviation transport market?

Dateline 2011-03-28:

KUALA LUMPUR: Boustead Holdings Bhd will buy a 51% stake in helicopter and aircraft charter services provider MHS Aviation Bhd for RM100mil in an effort to strengthen its involvement in the oil and gas industry.

In a Bursa Malaysia filing today, Boustead said that it wants to buy 10.2mil shares of RM1 each in MHS Aviation as it entered into a conditional sale and purchase agreement with DRIR Equities Sdn Bhdand Tulus Sejagat Sdn Bhd.

“Petronas Carigali Sdn Bhd has awarded a contract to MHS on August 20 last year to provide rotary wing aircraft, equipment and services (for heavy type aircraft- EC225) for ten years with an option for another five years commencing April 1 this year to March 31 2021,” it said.

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This entry was posted on Thursday, April 14th, 2011 at 6:00 am and is filed under investment, Malaysia. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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