Investing Experience -
Risk Profile -
Followers
0
Following
0
Blog Posts
0
Threads
4
Blogs
Threads
Portfolio
Follower
Following
Summary
Total comments
4
Past 30 days
0
Past 7 days
0
Today
0
User Comments
Stock
Stock
Stock
2018-11-09 21:54 | Report Abuse
http://www.theedgemarkets.com/article/sapura-seals-deal-divest-50-upstream-unit-omv-ag-us975m
November 09, 2018 19:30 pm
Sapura Energy Bhd has sealed the deal to divest half of its wholly-owned exploration and production (E&P) unit Sapura Upstream Sdn Bhd to Austrian oil and gas (O&G) outfit OMV Aktiengesellschaft (OMV), of which part of the proceeds will be used to repay its debt.
This marks a cash consideration of US$890 million to Sapura Energy, of which US$720 million (RM3 billion) will partly be used to repay its debt. Another US$160 million will be reserved for working capital after discarding funds required for the exercise.
OMV also agreed for an additional consideration worth US$55 million plus up to another US$30 million in contingency funds mainly linked to the resource volume in Block 30, Mexico at the time of taking the final investment decision.
In total, Sapura Energy would receive minimum cash proceeds of between US$920 million and US$975 million, with a gain of disposal of approximately US$649 million, said the company.
Stock: [BJLAND]: BERJAYA LAND BHD
2019-01-24 17:07 |
Post removed.Why?