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Aviva Corporation Ltd Sells Botswana Energy Solutions Limited To African Energy Resources Limited

Sunday, 28 Apr 2013 06:28pm EDT 

Aviva Corporation Ltd announced that it has entered into a conditional agreement (the Agreement) with African Energy Resources Limited (ASX: AFR, BSE: AFR) (African Energy) to sell its Mmamantswe Coal Project (the Project) to African Energy. Subject to the satisfaction of certain conditions precedent, African Energy will acquire all of the shares in Aviva's wholly owned subsidiary Botswana Energy Solutions Limited (BES), for a payment of AUD 3.5 million. Mmamantswe Coal (Proprietary) Ltd(Mmamantswe Coal), which holds Aviva's rights to the Project, is a wholly owned subsidiary of BES. 

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24 Jul 2014