Technip To Take 8% Stake In Malaysia Marine and Heavy Engineering
October 15 2010 - 1:55AM
Dow Jones News
French oil services company Technip SA (TEC.FR) Friday said it
will take an 8% stake in Malaysia Marine and Heavy Engineering
Holdings Bhd., or MHB, when it is listed on the Kuala Lumpur stock
exchange, expected at the end of October.
The move follows the finalization of agreements establishing the
French oil services company's long-term cooperation with MISC Bhd.
(MIHDF) and MHB, which belong to Malaysia's national oil company
Petroliam Nasional Bhd.
The agreements are part of Technip's strategy of bolstering its
position in the Asia Pacific region.
-By Mimosa Spencer, Dow Jones Newswires; +33 1 4017 1740;
mimosa.spencer@dowjones.com
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