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MB Holding buys Century
- Oman: Sunday, December 09 - 2007 at 07:57
Australian engineering firm Downer EDI is to sell its oil, gas and geothermal drilling division Century Resources to the Oman based MB Holding, reported Reuters. The transaction will occur in two phases with 51% of Century transferring over to MB in the first instance with Downer retaining the balance of shares. The deal values Century at around $137m; MB could pick up the remaining 49% stake in the next few years.
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Jonathan Sheikh-Miller, Deputy EditorSunday, December 09 - 2007 at 07:57 UAE local time (GMT+4)
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