Friday, 19 July 2013

Petronas in talks to sell 80pc Engen stake

Petroliam Nasional Bhd (Petronas) seems poised to sell its controlling stake in Engen Petroleum Ltd, the biggest petroleum retailer in South Africa. The national oil company yesterday confirmed that it is talking with "interested parties". "Petronas is in preliminary discussion with interested parties and is not able to comment further," it said in response to BT query. It was reported that PetroSA, South Africa's state-owned oil company, is considering buying the 80 per cent controlling stake held by Petronas in Engen. Pembani Group Ltd, a private equity firm based in Johannesburg, owns the rest of Engen shares. (BT)

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