Deleum Bhd, through its indirect subsidiary Deleum Oilfield Solutions (Thailand) Co Ltd (DOST), is acquiring the business and assets of Thailand-based MPC Future Co Ltd for RM60 million.
The deal, formalised via a sale and purchase agreement signed on June 16, involves a mix of cash and share considerations, including the issuance of new ordinary and preference shares in DOST to MPC, which will ultimately hold a 48.34% stake in the expanded entity.
The acquisition includes key operational assets such as slickline, hydraulic workover and wellhead maintenance services, valued at over RM50 million. MPC’s e-line business is excluded from the deal.
Deleum’s wholly owned subsidiary Deleum Services Sdn Bhd (DSSB) will retain majority control of DOST post-acquisition, with the right to appoint the majority of directors and maintain strategic oversight under a shareholders’ agreement.
The acquisition is expected to strengthen Deleum’s regional footprint in oilfield services, unlock synergies and position the group as a competitive player in Thailand’s energy sector.
Deleum affirmed that the transaction poses no material risk or shareholder dilution, though gearing may increase slightly due to funding via bank borrowings.
Completion of the deal is targeted for the second half of 2025, subject to regulatory and contractual conditions.
