Phoenix Petroleum Philippines Inc has acquired 100 per cent shares in Petronas Energy Philippines Inc (Pepi), and Duta Inc for a total consideration of up to $126.1 million (P6.268 billion).
Phoenix Petroleum bought all interest owned by PDB Nehterlands BV (PDBN) in Pepi and Duta. PDBN is an investment holding company of Petronas Dagangan Berhad (PDB), a Malaysia-based company engaged in retail and marketing of oil and gas products.
