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Delixy Signs LOI To Acquire Up To 48% Stake In Kazakhstan Oil Project
Source: Nasdaq
M&A & RestructuringEnergy Markets & PricesEmerging Markets
Delixy Holdings (DLXY) signed a non-binding letter of intent with Caog S.a.r.l. to acquire or merge up to 48% of Tarbagatay Munay, a Kazakhstan-based oil and gas project operator. The prospective transaction would expand Delixy's exposure beyond oil-related product trading into upstream energy operations, though terms, valuation, timing, and completion remain uncertain.
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