Commenting on the completion, managing director Kenneth Gerard Pereira said: “The completion of this acquisition brings to a close the process which began when we first bid for these assets and opens a new chapter in the group’s next phase of growth.
KUALA LUMPUR: Hibiscus Petroleum Bhd
’s subsidiary Peninsula Hibiscus Sdn Bhd has completed the acquisition of the entire equity interest in Fortuna International Petroleum Corp.
In a statement, the group said that out of the purchase price of US$212.5mil (RM890.2mil), the net amount paid at completion was US$123.65mil (RM518mil) after taking into account various adjustments including the deposit of US$15mil (RM63mil). It added that all conditions were fulfilled as at Jan 20, 2022.
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