ReutersReuters

Bawan Signs Binding Mou To Acquire Petronash Holding

BAWAN COMPANY 1302:

  • SIGNS BINDING MOU WITH PETRONASH GLOBAL LIMITED.

  • MOU TO ACQUIRE 100% OF OUTSTANDING SHARES OF PETRONASH HOLDING

  • BAWAN WILL PAY TO SELLER AN INITIAL AMOUNT OF $80 MILLION

  • ENTIRE SHARES OF COMPANY ARE VALUED AT $175 MILLION

  • WILL ALSO PAY SELLER MAXIMUM OF $60 MILLION SUBJECT TO CO ACHIEVING SET FINANCIAL TARGETS

  • WILL PURCHASE REMAINING 20% OF PETRONASH GLOBAL SHARES AFTER ISSUANCE OF FINANCIAL STATEMENTS OF 2027 OR 2028

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