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Asian Oilfield Services to acquire majority stake in JV Optimum Oil & Gas

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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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 16:06 IST