Malaysia's Cliq Energy Buys into Kazakhstan Oilfields for $117M

Reuters

KUALA LUMPUR, March 24 (Reuters) – Cliq Energy Bhd , a special-purpose acquisition company (SPAC), said on Tuesday it would acquire a controlling interest in two active oilfields in Kazakhstan for $117.3 million.

Cliq Energy plans to buy 51 percent of a special purpose vehicle, which owns the oil blocks and is held by Phsytech Firm LLP.

The company will pay $90 million in cash and make a deferred payment for the rest once the terms of the sales and purchase agreement are met.

For the full statement, please click:

http://bit.ly/1GbXMmU

(Reporting by Al-Zaquan Amer Hamzah; editing by Jason Neely)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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