PETALING JAYA: Boustead Holdings Bhd will buy an 80% stake in PFC Engineering Sdn Bhd for RM20mil cash, bringing the group’s plans to expand its oil and gas (O&G) business a step closer to fruition.
The firm said in a filing with Bursa Malaysia that it had inked a conditional share sale agreement with Datuk Abu Talib Mohamed (pic), the brother of Tan Sri Abu Sahid Mohamed of the Maju Group, to acquire eight million shares in PFC Engineering, an integrated engineering and maintenance services provider for the O&G industry.
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