PetroAsian acquires LNG services company

PetroAsian acquires LNG services company

PetroAsian said that it has acquired the LNG company Perfect Reward at an aggregate consideration of $950 million. 

In a filing to the stock exchange, PetroAsian informed that $130 million will be settled by cash, $120 million will be settled through consideration shares and $700 million will be settled through the issue of bonds.

Perfect Reward is an investment company with primary asset in equity interest in CLNG Group, a company principally specialised in domestic equipment sales, modification and maintenance services of LNG, remanufacture of gas engines, fuel conversion, vehicle modification for gas application, plantation of LNG facilities, LNG refuelling stations for vessels, ports and vehicle, and related logistics and is a service provider of the LNG supply chain covering all the upstream, midstream and downstream segments in the industry.

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >