From The Star: Wah Seong bids for Socotherm

March 23, 2010

Dateline 2010-03-18, from The Star:

KUALA LUMPUR: Oil and gas company Wah Seong Corp Bhd submitted its bid to buy over Italian company Socotherm SpA three weeks ago, said deputy managing director Giancarlo Maccagno.

The results of the tender, which has attracted four other parties, would be known by end-April.

Maccagno declined to reveal the cost of the acquisition, which would be funded internally, as the company had a high cash reserve and low gearing of 0.3 times.

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