Sona's first purchase but market reacts negatively


SONA Petroleum Bhd’s proposed acquisition of a 40% stake in London-listed Salamander Energy Plc’s Thai unit for US$280mil (RM903.64mil) was one of the more significant corporate developments this week.

For some time now speculation had been brewing that Sona, a special-purpose acquisition vehicle, was eyeing a foreign listed company as its targeted qualifying asset or QA.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


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!

Business , Sona , Petroleum , Salamander

   

Next In Business News

Uzma wins PETRONAS contract
Dayang bags two contracts from PCSB
Bullish outlook for VSTECS
Izham’s contract with Malaysia Airlines extended
Bumi Armada to weigh buying MISC energy assets
Pasdec in RM74mil land sale
Aizo secures RM24mil infrastructure job
Dollar lingers at six-month peak as US inflation comes in focus
China unveils tax incentives to revive struggling property sector
MClean Technologies gets Bursa Securities nod for proposed private placement

Others Also Read