Malaysia’s DNeX eyes more North Sea M&A as Ping deal nears finishing line
Malaysia’s DNeX eyes more North Sea M&A as Ping deal nears finishing line
Malaysian IT and energy sector service provider Dagang Nexchange (DNeX) is closing in on a deal to increase its stake in North Sea minnow Ping Petroleum to 90%.
DNeX said its shareholders approved the $78 million acquisition of an additional 60% stake in Ping at an extraordinary general meeting on Friday.
It expects to complete the transaction, initially announced in Q1 2021, by the end of this month.
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