PETALING JAYA: Kencana Petroleum Bhd, via subsidiary Kencana Petroleum Ventures Sdn Bhd (KPV), has proposed to acquire all equity interest in Mermaid Kencana Rig 1 Pte Ltd (MKR1), Kencana Mermaid Drilling Sdn Bhd (KMD) and Mermaid Kencana Rigs (Labuan) Pte Ltd (MKR Labuan) held by Mermaid Drilling (Singapore) Pte Ltd.
It told Bursa Malaysia yesterday that it had executed three separate conditional sale and purchase agreements for the proposed acquisition.
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