Repsol to Acquire 40% Stake in United Global Unit for Up to $46.5 Million
September 30 2019 - 6:07AM
Dow Jones News
By Saurabh Chaturvedi
A subsidiary of Repsol S.A. (REP.MC) has agreed to buy a 40%
stake in a unit of United Global Ltd. (43P.SG) for up to $46.5
million, the Singapore-listed lubricants manufacturer said
Monday.
The proceeds from the deal will be used for business expansion,
investments and acquisitions, United Global said in a
statement.
Of the consideration, the company will get US$36.5 million in
cash while the rest would be deferred and is liable to be paid by
2023.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com
(END) Dow Jones Newswires
September 30, 2019 05:52 ET (09:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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