KS increases stake in Atlantic Oilfield Services
Thursday, November 8 2012 - 04:14 AM WIB
By Romel S. Gurky
KS Drilling Pte Ltd (KSDR), 80 percent owned by Singapore-listed energy sector services provider KS Energy Limited, has increased its stake in PT Atlantic Oilfield Services (AOS) to 95 percent, KS Energy announced.
In a media statement, KS Energy said KSDR has increased the ownership after it acquired another 5 percent stake in AOS from PT Citra Agramasinti Nusantara (CAIN) on October 18 for US$50,000.
Concurrently, CAIN has sold 1,000 ordinary shares, which accounts for 0.1 percent stake, in the capital of AOS to an unrelated third party. CAIN now holds 4.9 percent stake in AOS.
Editing by Dadan Wijaksana