PETALING JAYA: Sumatec Resources Bhd has entered into a third supplemental agreement with its vendors for its proposed US$290mil (RM1.22bil) acquisition of an oilfield in Kazakhstan to alleviate its upfront financial commitment.
The variations in the new agreement included extending the deadline to Aug 22, 2016 for the fulfilment of the condition precedent, and the payment by Sumatec of the balance cash payment amounting to US$105mil.
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