Reach Energy Bhd managing director Shahul Hamid Mohd Ismail.
PETALING JAYA: Special-purpose acquisition company (SPAC) Reach Energy Bhd
is one step closer to completing its proposed acquisition of a 60% stake in Palaeontol BV for US$154.9mil, as its vendor has obtained approval from its shareholders for the disposal.
Palaeontol BV is a unit of Palaeontol Cooperatief UA (Palaeontol Coop), which in turn is an indirect unit of Hong Kong-listed MIE Holdings Corp.
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