KUALA LUMPUR: Petroliam Nasional Bhd is buying BP's entire 15% and 60% interests respectively in Ethylene Malaysia Sdn Bhd (EMSB) and Polyethylene Malaysia Sdn Bhd (PEMSB).
Petronas said on Wednesday, Sept 1 that it would pay US$363 million (RM1.14 billion) in cash to BP, inclusive of a balance sheet adjustment of US$13 million and the repayment of a shareholder loan of US$53 million.
'Subject to certain conditions, both parties anticipate completing the transaction by the end of 2010,' it said.
Petronas said on Wednesday, Sept 1 that it would pay US$363 million (RM1.14 billion) in cash to BP, inclusive of a balance sheet adjustment of US$13 million and the repayment of a shareholder loan of US$53 million.
'Subject to certain conditions, both parties anticipate completing the transaction by the end of 2010,' it said.
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