It is the largest transportation MA globally in 2003 and bankers suspect it is the biggest ever MA 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.
The size of the deal goes above $1 billion if you include debt assumed and measure the strict enterprise value. Bankers close to deal are ecstatic that such a deal could get done in the midst of SARS and such turbulent markets.
In these challenging markets it's good to see...
