17/02/2009 - 17:28

Clough confirms Petrosea share sale

17/02/2009 - 17:28

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Engineering and construction firm Clough has confirmed it has decided to sell its 82 per cent stake in PT Petrosea Tbk.

Clough confirms Petrosea share sale

Engineering and construction firm Clough has confirmed it has decided to sell its 82 per cent stake in PT Petrosea Tbk.

In a brief statement, the company said advisors have been appointed to assist with the sale and discussions with a number of interested parties is continuing.

Clough said the sale will allow it to strengthen its focus on the oil and gas sector.

The decision to sell follows a strategic review of Clough's operations, where the company previously announced 75 employees will be cut from its Perth and Bangkok offices.

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