Actis announces KS Distribution deal
Actis has partnered with SGX-listed energy services company KS Energy in a $230 million deal to create Asia's largest oil, gas and marine products distribution business, KS Distribution.
Actis is committing $101 million to the deal, for a 44.4% stake, with KS Energy holding 55%. The deal follows a consolidation of KS Energy subsidiaries Aqua-Terra Supply and SSH Corp. through schemes of arrangement, launched in December 2009 and now approved by Singaporean courts. Gary Addison, Partner at Actis in Southeast Asia, said, “This was an extremely complicated transaction and one of the first deals of its kind in Asia," citing "the opportunity to create one of the region’s most attractive oil and gas services companies.”
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