Deleum's unit acquires oilfield service business in Thailand for RM60mil
The oil and gas company said this move is part of its strategic growth plan for regional expansion.
Deleum will, through its Thai subsidiary named Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) purchase assets including slickline, hydraulic workover and well head maintenance from MPC Future Co Ltd.
The purchase consideration for these assets would be satisfied through a combination of cash payment and issuance of new shares in DOST, it said.
This will result in Deleum being a 49.93% and MPC a 48.34% shareholder of DOST after this corporate transaction, it added.
'The proposed acquisition is aligned with Deleum's strategy to strengthen its regional footprint and enhance its service offerings beyond Malaysia,' it said.
Barring unforeseen circumstances, the company said this acquisition is expected to be completed within the second half of 2025.
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