Corporate digest

United Global

CATALIST-listed lubricant manufacturer United Global has inked a non-binding memorandum of understanding (MOU) with Spain's Repsol Lubricantes.

Under the MOU, Repsol will conduct a feasibility study to explore the acquisition of an equity stake in United Global's wholly-owned subsidiary United Oil Company. Once the study is completed, the company and Repsol will discuss whether to proceed with the possible sale, and negotiate terms for a definitive agreement to be executed.