From Bernama: SapuraCrest Petroleum & Kencana To Merge In Deal Worth RM11.85 Billion


Dateline 2011-07-11:

SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd have received an offer by a special purpose vehicle, Integral Key Sdn Bhd, to merge and create one of Malaysia’s largest integrated oil and gas services provider in a deal worth RM11.85 billion.

Integral Key, wholly-owned by Mayban Ventures Sdn Bhd, has offered to buy the entire business and undertakings of SapuraCrest, including its assets and liabilities for RM5.872 billion or RM4.60 per share of RM0.20 each.

It has also offered to buy Kencana Petroleum’s business for RM5.979 billion or RM3.00 per share of RM0.10 each.

The offer is valid until Aug 15 at 5pm.

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