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Malaysia's Sapura will sell operations to OMV in Austria

 Last Update: 2022-11-26
 Source: Internet
 Author: User

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Sapura Energy Bhd, Malaysia's largest oil and gas services company, said on Wednesday it would sell a 50 percent stake
in its upstream business to Austrian oil and gas group OMV, Reuters reported in Kuala Lumpur, September 12.

Sapura said the proposed deal is based on an enterprise value of $1.
6 billion, adding that the two companies have agreed to continue negotiations
on an exclusive basis.

Sapura's shares rose 4.
5 percent
after the announcement.
A few weeks ago, Sapura announced plans to raise 4 billion ringgit ($963.
86 million)
through a proposed rights issue.
in order to improve their financial position and reduce debt
.

According to Thomson Reuters, Sapura has a market capitalization of about $484.
5 million, while OMV is valued at about $16.
9 billion.

OMV

Sapura said the proposed deal is based on an enterprise value of $1.
6 billion, adding that the two companies have agreed to continue negotiations
on an exclusive basis.

According to Thomson Reuters, Sapura has a market capitalization of about $484.
5 million, while OMV is valued at about $16.
9 billion.

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