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Corporate News

Sapura’s degearing move, sells 50% of E&P to cut debts

PETALING JAYA: Sapura Energy Bhd, which is saddled with net debt of slightly more than RM15bil, has stepped up plans to reduce its gearing with a proposed disposal of a 50% stake in its oil and gas exploration and production (E&P) arm to Austria’s OMV Aktiengesellschaft (OMV AG).