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Asian Oilfield Services has entered into a Share Purchase Agreement dated 15 November, 2019 for acquisition of 51% of Equity Share Capital of Optimum Oil & Gas (hereinafter referred to as 'Optimum/JV Company') from its existing shareholder.
The Company currently holds 23% of Equity Share Capital of Optimum. On completion of all closing formalities, Optimum will become a subsidiary of the Company with 74% holding.
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