OEL acquiring firm in oil and gas business
Proposed 51% stake in Allied Resources part of diversification strategy
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IN a bid to generate new income streams and to diversify from its businesses in shipyard operations and property management, Catalist-listed OEL (Holdings) has struck a deal to acquire 51 per cent of Allied Resources, an investment holding company with interests in the oil and gas business.
The consideration is about S$18.2 million.
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