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NewsNaim Indah to participate in Shell LPG business buy
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Naim Indah to participate in Shell LPG business buy
by hlk Wed 14 Mar 2012, 08:22
KUALA LUMPUR: Naim Indah Corp Bhd (Nicorp) has been invited to participate in the purchase of Shell Malaysia liquefied petroleum gas (LPG) business and assets.
Oman-based National Gas Company (NGC) recently won the bid to buy Shell Malaysia Trading Sdn Bhd's LPG business for an estimated RM275 million.
NGC in partnership with Aspire Sdn Bhd set up a 40-60 special purpose vehicle to undertake the disposal.
Aspire is owned by Wan Zainalam Wan Yusoff and Wan Zulkifle Wan Yusoff on a 60-40 basis.
Nicorp, in a statement to Bursa Malaysia, said that Aspire has also invited it exclusively to participate in the acquisition.
However, while Nicorp has accepted the letter of invitation to participate, the manner of its participation has not been stated.
Nicorp and Aspire will negotiate the terms of the acquisition and make the necessary announcement.
Nicorp is predominantly engaged in investment holding and provision of management services to its subsidiaries.
It is listed on the Main Market of Bursa Malaysia and its core activities are property investment, property development and round logs timber extraction.
Nicorp was among the active stocks on the Bursa yesterday, easing four sen to end at 68.5 sen
NGC in partnership with Aspire Sdn Bhd set up a 40-60 special purpose vehicle to undertake the disposal.
Aspire is owned by Wan Zainalam Wan Yusoff and Wan Zulkifle Wan Yusoff on a 60-40 basis.
Nicorp, in a statement to Bursa Malaysia, said that Aspire has also invited it exclusively to participate in the acquisition.
Nicorp and Aspire will negotiate the terms of the acquisition and make the necessary announcement.
Nicorp is predominantly engaged in investment holding and provision of management services to its subsidiaries.
It is listed on the Main Market of Bursa Malaysia and its core activities are property investment, property development and round logs timber extraction.
Nicorp was among the active stocks on the Bursa yesterday, easing four sen to end at 68.5 sen
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