FRIDAY, April 26, 2024
nationthailand

M'sian distributor buys VN firms

M'sian distributor buys VN firms

Petronas Dagangan, a supplier of petroleum products in Malaysia, has completed the acquisition of two Vietnamese petroleum companies, Petronas Vietnam Co and Thang Long LPG Co.

 

The transaction was made in accordance with a share sale-and-purchase agreement dated June 1, 2012.
Both Vietnamese companies will be held by Petronas Dagangan Berhad (PDB) via wholly owned investment holding firm PDB (the Netherlands) BV, the company announced in a statement on Monday.
The deal marks the completion by PDB of the acquisition of all six downstream companies in Southeast Asia.
Aminul Rashid Mohd Zamzam, PDB managing director and chief executive officer, said that at the completion of the agreement PDB would fully integrate its domestic and regional operations.
“The focus moving forward is to roll out the various growth initiatives over the next 12 months, focusing on nurturing and strengthening the newly acquired companies,” Zamzam said.
PDB is a subsidiary of Malaysian oil-and-gas company Petroleum National Bhd (Petronas), which holds a 69.86-per-cent stake. 
 
 
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