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Technip Finalizes Agreements with MISC and MHB

Source: www.gulfoilandgas.com 10/15/2010, Location: Asia

Technip announces that it has finalized its agreements with MISC Berhad and Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), two companies within Malaysiaís national oil corporation, Petroliam Nasional Berhad (PETRONAS), to establish their long-term collaboration.

As previously announced on August 20, 2010, to strengthen the links between the two groups, Technip will take an 8% stake in MHB in connection with the listing and initial public offering of MHB's ordinary shares on the Main Market of Bursa Malaysia (Kuala Lumpur stock exchange), which is expected to occur at the end of this month.

This investment and collaboration extends Technipís local content in Malaysia and reinforce its position in the fast growing Asia Pacific region in line with Technip strategic goals.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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