PDB completes acquisition of parent’s downstream operations overseas

Petronas Dagangan Bhd (PDB), a company supplying petroleum products and operating service stations in Malaysia, has completed the purchase of two Vietnamese petroleum companies, Petronas Vietnam Co. and Thang Long LPG Co., in accordance with a share sale and purchase agreement dated June 1, 2012.
With the completion of this deal, PDB has completed the acquisition of all of its parent company’s six downstream companies in Southeast Asia. Aminul Rashid Mohd Zamzam, PDB managing director and CEO, said that PDB would hold the two acquired Vietnamese companies via the wholly owned investment PDB (Netherlands) BV and would fully integrate its domestic and regional operations.
“The focus moving forward is to roll out the various growth initiatives over the next 12 months, focusing on nurturing and strengthening the newly acquired companies,” Zamzam said.
 
PDB is a subsidiary of Malaysian oil and gas company Petroleum National Berhad (Petronas). (January 2, 2013)