KUALA LUMPUR: Petronas Dagangan Bhd is divesting its liquefied petroleum gas (LPG) businesses in Vietnam as part of its portfolio rationalisation strategy.
In a filing with Bursa Malaysia on Friday, Petronas Dagangan said its unit, PDB (Netherlands) BV (PDBN), had entered into two share sale and purchase agreements with Totalgaz Vietnam Ltd.
“Under these agreements, PDBN will divest 100% equity interest in Petronas (Vietnam) Co Ltd (PVL) and Thang Long LPG Co Ltd (TLLCL).
“Upon completion of the divestment, expected by the second quarter of 2016, PVL and TLLCL will cease to be indirect units of PDB,” it added. – Bernama
In a filing with Bursa Malaysia on Friday, Petronas Dagangan said its unit, PDB (Netherlands) BV (PDBN), had entered into two share sale and purchase agreements with Totalgaz Vietnam Ltd.
“Under these agreements, PDBN will divest 100% equity interest in Petronas (Vietnam) Co Ltd (PVL) and Thang Long LPG Co Ltd (TLLCL).
“Upon completion of the divestment, expected by the second quarter of 2016, PVL and TLLCL will cease to be indirect units of PDB,” it added. – Bernama
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