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PetroChina Acquires 45% Stake in Singapore Petroleum Company

PetroChina Acquires 45% Stake in Singapore Petroleum Company

PetroChina announced on November 5 that the acquisition of a 45% stake in Singapore Petroleum Company has been completed.

世贸通9980 reads

Singapore Immigration Focus on Singaporean Immigration Economy: PetroChina announced on November 5 that the acquisition of a 45% stake in Singapore Petroleum Company has been completed. 

 

Singapore

 

On May 25, the Board of Directors of PetroChina announced that on May 24, PetroChina International (Singapore) Pte. Ltd., an indirect wholly-owned subsidiary of PetroChina, entered into a conditional sale and purchase agreement with Keppel Oil and Gas Services Pte. Ltd. (the "Seller"), pursuant to which PetroChina International (Singapore) Pte. Ltd. would acquire 234 million shares of the issued and paid-up share capital of Singapore Petroleum Company Limited, representing 45.51% of the issued share capital of Singapore Petroleum Company Limited (excluding treasury shares). 

 

PetroChina stated that the conditions precedent for the sale and purchase have been fulfilled, and the acquisition was completed today. In accordance with Singaporean law, PetroChina International (Singapore) Pte. Ltd. will make an acquisition offer for all remaining offer shares. 

Investment involves risks, the above information is for reference only

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