PETALING JAYA: Cliq Energy Bhd has entered into a business transfer agreement with Phystech II, the special purpose vehicle in which the company is buying a 51% stake from Kazakhstan-based Phystech Firm LLP.
The agreement involves the transfer of assets, property, contracts, and rights for production of oil in two partial blocks in the North Karazhanbas field. On March 24, the special purpose acquisition company said it would be buying the 51% stake from Phystech Firm for US$117.3mil (RM433.4mil).
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