Malaysia's Cliq Energy Buys into Kazakhstan Oilfields for $117M
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.
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(Reporting by Al-Zaquan Amer Hamzah; editing by Jason Neely)
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