Malaysia's CLIQ Energy Buys into Kazakhstan Oilfields for $117 Million
Source: Reuters 3/24/2015, Location: Asia
CLIQ Energy, a special-purpose acquisition company (SPAC), said 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.
