The largest Malaysia-Singapore M&A ever?

With an enterprise value of over $1 billion, MISC''s acquisition of AET from NOL sets a new record.

It is the largest transportation M&A globally in 2003 and bankers suspect it is the biggest ever M&A between Malaysia and Singapore - two countries that are not known for selling assets to each other. Petronas-controlled MISC has paid Singapore's NOL $445 million for American Eagle Tankers (AET), an asset that will fuel MISC's global shipping pretensions.

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