Union Gas to acquire U-Gas, Semgas Supply assets for total $11.6 mil

SINGAPORE (Mar 20): Union Gas Holdings has agreed to acquire the entire issued and paid-up capital of U-Gas from Union Energy Corporation (UEC) for $9.2 million.

U-Gas is involved in the supply of liquefied petroleum gas (LPG) to hawker centres.

$6.44 million will be satisfied through the allotment and issue of around 24.3 million shares in Union Gas to UEC at an issue price of 26.47 cents per share, while the remaining $2.76 million will be paid in cash.

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