AMOS Group to Dispose of Minority Stake in Units

MT Newswires

07/01

AMOS Group (SGX:49B) signed an addendum to joint venture agreement with CR3, which will allow the latter to acquire 11.3% stake in AMOS Supply, AMOS Malaysia and respective subsidiaries for SG$1 million, according to a Wednesday filing with the Singapore Exchange.

The subsidiaries are engaged in energy logistics, rigging, lifting and other industrial services for the offshore oil and gas and marine industries.

Proceeds from the disposal will be paid to reduce bank indebtedness and working capital.

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