SAPURA Telecommunications Bhd's (Sapura) search for a meaningful core business is finally over with its recent acquisition of a 38.56 per cent stake in Crest Petroleum Bhd, a company whose mainstay is in offshore drilling, marine installations and marine construction.
The stake, which Sapura is acquiring from Renong Bhd, costs some RM105.2 million and will strengthen Sapura's presence in the oil and gas sector, after the company first ventured into the business with Sapura Energy
Sdn Bhd back in 1997.
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