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Hoe Leong Corporation Ltd Announces Acquisition Of Remaining Shareholding Interests in Supreme Energy Pte Ltd

Tuesday, 19 Mar 2013 05:19am EDT 

Hoe Leong Corporation Ltd announced that it has on acquired 400,000 ordinary shares, representing 40% shareholding interest in the capital of Supreme Energy Pte Ltd (SEPL) for an aggregate net purchase consideration of USD0.5 million from Supreme Oilfield Services Pte Ltd (SOS), making SEPL, a wholly owned subsidiary of the Company (Acquisition). The Purchase Consideration was arrived on a willing buyer willing seller basis, which has taken into account the net tangible asset value of SEPL and was paid in cash by the Company to SOS. 

Company Quote

2 Mar 2015