PEC's US$160 Million Acquisition by Alliance Energy: A New Chapter in Energy Solutions

PEC Ltd has been acquired by Alliance Energy Services in a deal valued at US$160 million, approved by a shareholder vote in Singapore. The acquisition will lead to PEC's delisting from the SGX. The move is set to enhance Liberty Energy's global platform, offering advanced engineering solutions worldwide.

Devdiscourse News Desk | Singapore | Updated: 07-05-2025 10:25 IST | Created: 07-05-2025 10:25 IST

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Country:
Singapore

Shareholders of PEC Ltd. (SGX: IX2) have approved a US$160 million acquisition by Alliance Energy Services Pte Ltd through a Scheme of Arrangement. The approval came at an Extraordinary General Meeting held in Singapore.

Following approval from Singapore's High Court, all shares of PEC will be acquired by Alliance, leading to its delisting from the Singapore Stock Exchange. Alliance Energy, controlled by Liberty Energy Solutions Ltd, aims to integrate PEC into its extensive portfolio of energy solutions.

The acquisition aligns with Liberty Energy's global ambitions, bolstering its presence across oil, gas, and petrochemical sectors through its subsidiaries CR3 and ZymeFlow. This transition is poised to expand the delivery of reliable and sustainable energy solutions worldwide.

(With inputs from agencies.)