19th December 2011
Monday, May 21st, 2012
Petrolinvest signs $35 million purchase agreement for Kazakh oil firm
Polish oil and gas company Petrolinvest has signed an agreement with Conwell Oil Corporation B.V. for the purchase of a 79 percent stake in Kazakh oil extraction company TOO EMBA Jug Nieft, Dziennik Gazeta Prawna reported.
The transaction price has been set at $35 million, but may be reduced by up to $4 million due to EMBA's liabilities.
The transaction will be finalized on condition that the financial and legal analysis will be positive. According to the agreement, the deal should be completed by June 30, 2012.
From Warsaw Business Journal
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