Hibiscus Petroleum buys TotalEnergies Brunei for US$259.4mil

Hibiscus Petroleum Bhd managing director Dr Kenneth Pereira

KUALA LUMPUR: Hibiscus Petroleum Bhd has proposed to acquire the entire equity interest in TotalEnergies EP (Brunei) B.V. (TotalEnergies Brunei) for a total cash consideration of US$259.4mil.

In a filing with Bursa Malaysia, Hibiscus Petroleum said its wholly owned subsidiary Simpor Hibiscus Sdn Bhd entered into a conditional share purchase agreement (SPA) with TotalEnergies Holdings International B.V. for the proposed acquisition of TotalEnergies Brunei.