ICON (5255) - Icon Offshore seals merger deal with UMW O&G
KUALA LUMPUR (Jan 19): Icon Offshore Bhd, which is controlled by Ekuiti Nasional Bhd (Ekuinas), is believed to have sealed a merger exercise with UMW Oil & Gas Corp Bhd (UMW O&G).
The merger exercise will then kickstart the consolidation in the domestic O&G industry, which has been in the downturn for the past two years, according to industry sources.
However, the detail of the merger exercise is not known at the time of writing.
Coincidentally, three companies — Icon Offshore, UMW Holdings Bhd and its O&G unit — have voluntarily suspended their shares from trading this morning.
The three companies’ filing to Bursa Malaysia this morning said the suspensions are pending material announcements.
ICON (5255) - Icon Offshore seals merger deal with UMW O&G
http://www.theedgemarkets.com/my/article/icon-offshore-seals-merger-deal-umw-og-0
