Rex International gets unsolicited, non-binding indications of interest for unit Lime Petroleum's assets
REX International Holding Limited said on Monday that it has received unsolicited, non-binding indications of interest in the portfolio of licences held by its 90 per cent owned subsidiary Lime Petroleum AS (LPA) from unrelated third parties.
The company said that it is carefully considering the interest, but there is no guarantee that it will lead to a formal, binding proposal for the divestment of LPA's portfolio of assets or LPA itself.
Appropriate announcements will be made if and when there are material developments, added the company.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apac Realty enters the Philippines with franchise agreement
Aztech Global Q1 net profit up 18.7% to S$16 million on foreign exchange gains, write-backs
UPS profit beats estimates as cost cuts offset weak delivery demand
PepsiCo beats quarterly revenue estimates on price hikes, steady demand
General Motors beats quarterly results targets, raises forecast
Soilbuild bags contracts worth S$81 million