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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!