Petronas Dagangan Berhad's wholly owned subsidiary PDB (Netherlands) has disposed its 100% stake in Thang Long Liquefied Petroleum Gas (LPG) to Noi Thuong Bac Joint Stock Company.
Thang Long LPG sells and distributes petroleum products such as automotive fuels, aviation fuel, gas fuels, industrial fuels and petrochemical products.
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The divestment forms part of PDB’s strategy of portfolio rationalisation.
Gates has completed the acquisition of GTF Engineering & Services UK, which owns the assets of Techflow Flexibles.
Techflow Flexibles supplies flexible hoses and couplings to the oil and gas exploration and production industry.
Kirby Corporation has agreed to acquire Stewart & Stevenson from Parman Capital Group for a purchase consideration of $710m.
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By GlobalDataThe acquisition will be funded by Kirby through the combination of cash from its revolving credit facility and issue of shares.
Stewart & Stevenson produces and distributes products and services for the oil and gas, marine, construction, power generation, transportation, mining and agricultural industries.
Scheduled for completion in the third quarter of this year, the transaction will allow Kirby to expand its distribution and services business.
