Gulf Oil to buy OK Lim's Ocean Tankers assets in Singapore
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GULF Oil International, part of the India-based Hinduja conglomerate, has inked an agreement to acquire a lubricant blending plant with wharf access, a storage tank farm and a terminal facility from Hin Leong-linked Ocean Tankers (Pte) Ltd.
The assets, located in the Tuas area of Singapore, will continue to operate as a going concern after the acquisition, Gulf Oil said in a press statement on Tuesday night.
The agreement is subject to closing conditions, the downstream lubricant firm added, without disclosing the deal price.
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