Geo Energy Resources Completes Acquisition of Majority Stakes in Two Indonesian Shipping Firms

MT Newswires

01/08

Geo Energy Resources (SGX:RE4) completed the acquisition of a 51% stake each in Maritim Pratama and Bahari Segara Maritim after issuing nearly 275.2 million shares to the Indonesian shipping companies, according to a Thursday filing with the Singapore bourse.

The new shares, which were part of the total consideration for the purchase, are expected to be listed and quoted on the Singapore Exchange Securities Trading on Jan. 9, the filing said.

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