SapuraCrest, Kencana boards agree to RM11.85b (USD3.94B) merger

SapuraCrest, Kencana boards agree to RM11.85b (USD3.94B)merger

KUALA LUMPUR: The boards of SAPURACREST PETROLEUM BHD [] and KENCANA PETROLEUM BHD [] have agreed to their merger to become one of the world’s largest oil and gas service providers in terms of market capitalisation and assets.
The companies said on Friday, Aug 5 that they accepted Integral Key Sdn Bhd’s (IKSB) RM11.85-billion offer to acquire all their assets and liabilities in a share swap. The merger under IKSB, a special purpose vehicle, would position them stronger to bid for upstream jobs.

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