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.
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LNG World News Staff