Salt Investments in talks to acquire marine lubricant supplier TT Oil

The Edge Singapore 12-19

The deal will bring together the "competitive strengths and combined business and funding networks" of both partiesSalt Investments is exploring the acquisition of a majority stake in marine lubricant...

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are in the process of helping to recapitalise Salt Investments by subscribing for new shares. \nOther investors include Koh Boon Hwee, former chairman of companies such as SIA and Singtel, and fund manager Terence Wong, a long-time business partner of Dennis Goh, CEO of Salt Investments.\nAccording to Salt Investments in its Dec 19 announcement, the potential acquisition of TT Oil will help bring together the \"competitive strengths and combined business and funding networks\" of both parties.\nSeparately, TT Oil has earlier agreed to charter a vessel from Prosper Excel Engineering, to replace its existing charter with another ship owner. \nSalt Investments, as part of its ongoing bid to grow the offshore and marine business, has recently acquired Prosper Excel.\nThe agreement between TT Oil and Prosper Excel has yet to be finalised.\nSalt Investments closed at 0.4 cents on Dec 18.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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