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UMW eyes O&G assets, money from Islamic bonds may be used to buy ‘bolt-on acquisitions’

Posted on 22 February 2013

UMW Holdings Bhd is looking at oil and gas (O&G) acquisitions following the finalisation of its RM2bil sukuk musharakah facility. Sources told Starbiz that the money to be raised from the sukuk issuance could be used to target potential “bolt-on acquisitions” that would complement its core O&G operations.
The sources added that the previously delayed initial public offering of UMW’s O&G unit would definitely take place this year, as the division has been readied for it and is showing the right kind of earnings………………………………….Full Article: Source

 
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