Malaysia's Sona Petroleum to Buy Salamander's Thai Assets


KUALA LUMPUR, June 5 (Reuters) - Sona Petroleum Bhd , Malaysia's largest listed special-purpose acquisition company, is buying a 40 percent stake in two oil and gas blocks from London-listed Salamander Energy Plc in the Gulf of Thailand for $280 million.

Sona said in a statement on Thursday its first acquisition since its initial public offering a year ago gave it a portfolio of production, development and exploration assets.

The blocks include an active oilfield that has been producing since 2008 and rights to explore surrounding fields.

The transaction, to close by the third quarter this year, is still subject to approval from shareholders and regulators. CIMB Investment Bank and BNP Paribas were advisers on the deal.

Salamander Energy will return $50 million to shareholders, who will receive 11 pence per share. Salamander on May 1 said it would sell assets and was approaching buyers to purchase the company.

(Reporting by Al-Zaquan Amer Hamzah; Additional reporting by Karen Rebelo in Bangalore; Editing by Stephen Coates)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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