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Sapura Energy proposes to dispose 50% of O&G arm


PETALING JAYA: Sapura Energy Bhd entered into a Head of Agreement (HoA) to dispose a 50% stake in its oil and gas exploration arm based on an enterprise value of US$1.6bil (RM6.5bil) to Austria’s OMV Aktiengesellschaft (OMV).

The proposed transaction is subject to continued ongoing negotiations between the two parties in an exclusive basis.

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