Wednesday, 15 February 2012

SapuraCrest-Kencana merger may list in Mar

The proposed listing of a combined SapuraCrest and Kencana Petroleum Bhd in Malaysia has been delayed to end-March or early April, a source told Reuters on Wednesday.

The planned merger of the Malaysian oil and gas services firms, the largest in the Malaysian oil and gas sector, was scheduled to list the combined entity by end-February, but has been delayed because the companies are awaiting court approval on certain aspects of the deal.

“We are still waiting for the high court to approve some outstanding processes for the merger to go ahead,” said the source, who could not be identified because he is not authorised to speak to the media. - Reuters

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