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Provider: Reuters Investment Profile
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Feore Ltd to acquire 100 pct. of Quangas Poly Ltd


Tuesday, 22 Jul 2014 08:00pm EDT 

Feore Ltd:Says that it has entered into a binding memorandum of understanding with Gain Diligence Limited to acquire 100 pct. of Quangas Poly Ltd.Says this potentially could lead to the establishment of profitable oil production operations in the Kyrgyz Republic and other countries in Central Asia.In consideration for the acquisition FeOre will pay to the Seller up to $23 mln, with the final price to be adjusted according to an independent valuation of the Target Company.FeOre shall pay to the Seller a deposit of $10 mln, refundable in the event that, for whatever reason, the transaction does not complete. 

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12 Feb 2015