US EditionPEC Ltd. US$160 million buyout and privatization by Liberty Energy Solutions Ltd
- At an Extraordinary General Meeting held in Singapore on May 6, 2025, shareholders of PEC Ltd approved a US$160 million deal for the company to be fully taken over by Alliance Energy Services Pte Ltd.
- The acquisition is subject to approval through a Scheme of Arrangement and requires formal endorsement from the Singapore High Court before the transaction can be finalized and PEC is removed from the Singapore Stock Exchange.
- Alliance Energy is primarily owned by Liberty Energy Solutions Ltd, while PEC’s leadership team, including its chairperson Edna Ko and chief executive Robert Dompeling, retain minority ownership stakes and continue to manage the company following the acquisition.
- PEC, with SGD 391 million revenue and SGD 142 million net cash as of December 2024, enhances Liberty Energy's global platform alongside CR3 and ZymeFlow to deliver comprehensive energy solutions worldwide.
- The acquisition broadens Liberty Energy’s service offerings and client network, supporting its goal to establish a worldwide presence delivering top-tier energy solutions by leveraging PEC’s proven leadership and technical capabilities.
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The Conway Daily Sun+67 Reposted by 67 other sources
PEC Ltd. US$160 million buyout and privatization by Liberty Energy Solutions Ltd
SINGAPORE, May 6, 2025 /PRNewswire/ -- PEC Ltd ("PEC", SGX: IX2) shareholders have approved a transaction valued at US$160 million for the 100% acquisition by Alliance Energy Services Pte Ltd ("Alliance") through a Scheme of Arrangement at Extraordinary General Meeting…
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