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Agriterra Ltd Enters Into Agreement With Marathon Oil Corp's Marathon Ethiopia Limited BV

Wednesday, 3 Oct 2012 02:00am EDT 

Agriterra Ltd announced that it has entered into an agreement with Marathon Ethiopia Limited BV, a subsidiary of Marathon Oil Corp ('Marathon'), for the sale of its 20% legacy interest in the South Omo Block ('South Omo') in Ethiopia, for a cash consideration of USD40 million on completion and a further USD10 million on Marathon's participation in a "Commercial Discovery" (the 'Agreement'). Agriterra will utilise the funds to implement its growth strategy of capitalising on the rapidly growing agricultural market in sub-Saharan Africa to become a leading food provider. 

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22 Jul 2014