KUALA LUMPUR: Dagang Nexchange Bhd's (DNeX) third-tier subsidiary PING Petroleum UK Ltd is acquiring the remaining 50% interest in the development of the Avalon Oilfield in the UK for US$17mil (RM71.72mil) cash.
In a filing with Bursa Malaysia, DNeX said PING UK had signed a sales and purchase agreement with Summit Exploration and Production Ltd to acquire the stake it did not already own.
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