Salamander farms-down 40 percent stake in its Thai portfolio to Sona Petroleum
On 5 June, SONA Petroleum Berhad (SONA) announced an agreement to acquire a 40% stake in Salamander's operated Thai interests for a total cash consideration of US$280 million. The price comprises of US$250 million for the B8/38 (Bualuang) concession, and US$30 million for the G4/50 exploration licence. The deal, subject to both regulatory and shareholder approvals of both Salamander and SONA, is expected to complete by end-Q3 2014. The effective date is 1 January 2014.Wood Mackenzie ...