Singapore: Magnus Energy unit acquires stake in Australian firm Royal Energy

Singapore: Magnus Energy unit acquires stake in Australian firm Royal Energy

Oil tanker at sunset. Credit: Flickr/rabiem22

Mid-Continent Equipment Group, a subsidiary of Magnus Energy, will be subscribing to 8 million shares in Royal Energy Pty Ltd at 12.5 Australian cents per share. This places the consideration at A$1 million ($702,850) for the share subscription.

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