PDB partners Petros for LPG business in Sarawak

PDB and PNiaga entered into heads of agreement for the proposed transactions in Kuching on Sunday.

KUCHING: Petronas Dagangan Bhd (PDB) will divest its liquefied petroleum gas (LPG) business in Sarawak to PetrosNiaga Sdn Bhd (PNiaga) under a strategic partnership between both parties in Sarawak.

Under the deal, PDB will then subscribe for a 49% equity stake in PNiaga, a wholly-owned subsidiary of state-owned Petroleum Sarawak Bhd (Petros), which is involved in the supply of industrial bulk, commercial and residential LPG.