Esso Malaysia says unaware of Exxonmobil's planBoustead says constantly looking for M&A opportunities (Adds Boustead's statement)
Esso Malaysia said on Monday it was not aware of any plan by its parent Exxonmobil International Holdings Inc's to sell its 65 percent stake in the company to plantation and shipping firm Boustead Holdings Bhd and the country's armed forces pension fund.
The Edge business weekly had reported over the weekend that Exxonmobil was looking to exit its Malaysian retail operations as margins were relatively low and it preferred to focus on exploration and production of oil.
Separately, Boustead said it is constantly exploring growth opportunities including mergers and acquisitions that will allow it to enhance its shareholders value.
"(The company) does not rule out any new M&As, including the acquisition of any players in the oil and gas sector, if there are opportunities available at the price and terms acceptable to Boustead," it said in a separate statement. - Reuters