The disposal is expected to result in a gain of approximately US$10 million for the group. Thereafter, IEG will cease to be a subsidiary of the company and New Silkroutes will become a full-fledged healthcare group.
SINGAPORE (Mar 25): New Silkroutes Group has sold its entire stake in its oil trading division International Energy Group (IEG) to TK Energy for US$10 million ($13.5 million) in cash.
TK Energy is a private limited company incorporated in Hong Kong formed by stakeholders with interests in the oil and gas sector.
