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Sona “confident” of securing SC approval for Salamander deal

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Sona “confident” of securing SC approval for Salamander deal Empty Sona “confident” of securing SC approval for Salamander deal

Post by Cals Wed 24 Sep 2014, 02:33

Sona “confident” of securing SC approval for Salamander deal
Business & Markets 2014
Written by Foo Yen Ne of theedgemalaysia.com   
Tuesday, 23 September 2014 14:41

KUALA LUMPUR (Sept 23): Sona Petroleum Bhd managing director Datuk Seri Hadian Hashim said he is “confident” of getting an approval from the Securities Commission to complete its first qualifying asset buy.

The oil and gas special purpose acquisition company is in the midst of acquiring a 40% stake in UK-listed Salamander Energy Plc’s Thai unit for US$281.2 million.

It said the regulator’s decision will likely be known by next month and the deal ought to be completed by year-end.

When asked if Sona has any contingency plans if the regulator does not approve the acquisition, Hadian said Sona “will go back to the drawing board” to look for another asset.
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