06 APRIL 2015www.dealstreetasia.com
Sincap signs MoU to acquire Orion Energy
Edited by : AL CIRCLE
1 min read
Singapore-listed Sincap Group Limited, which trades alumina and thermal coal, and is also involved in property development, has signed a memorandum of understanding to acquire Orion Energy Resources.
Orion too is a Singapore-incorporated company and is engaged in mineral trading and logistics management, and also supplies coal to power plants run by a state-owned company in China. Orion has direct access to major traders and mine owners in Indonesia and thus is able to secure a stable supply of coal to fulfill the long term needs of the power plants owned by a state-owned enterprise in China, Sincap said in a regulatory filing.
The transaction details have not been disclosed, and it may only be finalised after Sincap completes due diligence on Orion Sincap shares last closed at 6.9 cents.
Orion too is a Singapore-incorporated company and is engaged in mineral trading and logistics management, and also supplies coal to power plants run by a state-owned company in China. Orion has direct access to major traders and mine owners in Indonesia and thus is able to secure a stable supply of coal to fulfill the long term needs of the power plants owned by a state-owned enterprise in China, Sincap said in a regulatory filing.
The transaction details have not been disclosed, and it may only be finalised after Sincap completes due diligence on Orion Sincap shares last closed at 6.9 cents.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
China’s alumina imports fell 29.07% YoY in February
Next articleOrbite completes bought deal financing for $10 million
Grow with
AL Circle
