Investing 160 million yuan, Geo Energy Res acquires 51% equity in two Indonesian shipping companies | Lianhe Zaobao
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Geo Energy Resources completed the acquisition of a 51% stake in two Indonesian shipping companies, with a total amount of USD 127.5 million (approximately SGD 163.74 million). The acquisition payment consists of USD 23.5 million in cash and approximately USD 18 million in accounts receivable. In addition, the group issued 275 million ordinary shares at a price of SGD 0.40 per share, raising USD 86 million for payment. The acquisition plan was announced last August and was approved at the shareholders' meeting in November
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