Union Steel acquires 680M Eneco Energy shares for $7.48m
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The company will explore potential cross-selling and cost mutualisation opportunities.Union Steel Holdings Limited has acquired 680 million shares or 29.40% of Eneco Energy’s total share capital for $7.48m, according to a bourse filing.The company said logistics solutions provider Eneco Energy complements its business and will explore potential cross-selling and cost mutualisation opportunities with Eneco Energy.Union Steel said internal resources will fund the acquisition.SAC Capital Private Limited as the placement advisor to the company facilitated the transaction.
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