Sapura Energy proposes to dispose 50% of O&G arm

Sapura Energy Bhd entered into a Head of Agreement (HoA) to dispose a 50% stake in its oil and gas exploration arm based on an enterprise value of US$1.6bil to Austria’s OMV. The proposed transaction is subject to continued ongoing negotiations between the two parties in an exclusive basis. The proposed…

Saudi Arabia wealth fund prepares to sign US$11bil loan

DUBAI: Saudi Arabia’s sovereign wealth fund will sign an US$11bil loan this week, marking its first-ever borrowing, according to people familiar with the matter. Some of the biggest global lenders including Goldman Sachs Group Inc, HSBC Holdings Plc and JPMorgan Chase & Co are providing the loan that’s priced at…