Eni and PETRONAS sign a framework agreement to combine assets in Malaysia and Indonesia
Malaysia, June 17 -- Eni and PETRONAS have signed in Kuala Lumpur a Framework Agreement that sets the basis for the creation of the new, jointly participated company, that will oversee assets in Indonesia and Malaysia through business combination.This agreement builds on the recent exclusive Memorandum of Understanding signed by the two companies and includes the Key Principles of the Shareholder Agreement. The new Company will be established and operated as a financially self-sufficient entity and the parties have agreed on the asset-level valuations to be contributed to the new company, resulting in a 50:50 proportion. The new business combination will be strategically aligned to the Eni satellite model and follows what the Company alread...
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