Malaysia’s Boustead To Take Over MHS Aviation

 - April 27, 2011, 6:25 AM

Malaysia-based Boustead Holdings, known for its naval shipyards, confirmed it is entering a conditional purchase agreement for 51 percent of MHS Aviation after completion of its due diligence. The deal is valued at MYR100 million ($33 million). Last year, MHS was awarded a MYR3.1 billion ($1 billion) contract by oil producer Petronas Carigali to provide transportation services from 2011 to 2021.

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