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Union Steel acquires 680M Eneco Energy shares for $7.48m

Singapore Business Review

Nov 24, 2024 at 08:05 PM

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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.

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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