Wednesday, December 1, 2010

#Flash* Singapore's Chuan Huat divests Scomi Marine stake for RM91.8m

KUALA LUMPUR: Chuan Hup Holdings Ltd is divesting its stake in SCOMI MARINE BHD [] for RM91.8 million to Tael One Partners Ltd and Petroworld Investments Inc.

Scomi Marine said on Wednesday, Dec 1 Chuan Hup, had signed a sale and purchase agreement with Tael One Partners Ltd (acting in its capacity as general partner of The Asian Entrepreneur Legacy One LP) to dispose of 60 million shares for RM32.40 million.

Chuan Hup also signed a sale and purchase agreement with Petroworld Investments Inc to divest'' 110 million Scomi Marine shares for RM59.40 million.

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