Sona optimistic of SC nod for RM895mil Thai deal

Stressing that the proposed transaction was a

KUALA LUMPUR: Sona Petroleum Bhd is confident of getting the Securities Commission’s (SC) approval for its first qualifying acquisition to put it on track to complete the deal by the end of the year.

The special-purpose acquisition company (SPAC), which had on Aug 29 submitted its proposal for a US$281mil (RM895.2mil) deal to buy a 40% stake in the Thai unit of UK-listed Salamander Energy Plc to the SC, is expected to know the regulator’s decision by next month.