Boustead Holdings weighs RM2bil BHPetrol gas station sale, sources say

BOUSTEAD Holdings Bhd is considering divesting its gas stations in Malaysia and is seeking as much as 2 billion ringgit (US$432 million), according to people with knowledge of the matter.

The Kuala Lumpur-based conglomerate is working with an adviser to sell Boustead Petroleum Marketing Sdn Bhd, also known as BHPetrol, the people said. Oil and gas companies as well as investment firms have shown interest in the deal, the people said, asking not to be identified as the process is private.