PetroAsian buys 46.77% stake in Topact to boost Kazakhstan presence

16 November 2012 08:31  [Source: ICIS news]

SINGAPORE (ICIS)--Hong Kong-listed PetroAsian said late on Thursday it has agreed to acquire a 46.77% stake in Topact Holdings in a deal worth $3.6m (€2.8m).

Topact Holdings is mainly engaged in the oil and gas business in Kazakhstan.

Topact Holdings holds the majority stake in Songkaer Petroleum, which is mainly engaged in the extraction and production of crude oil as well as natural gas in Kazakhstan, according to PetroAsian.

“[The PetroAsian] board considers that the acquisition represents a good opportunity to the group to further strengthen its participation in oil and gas industry in [the] international sense,” it added.

($1 = €0.78)


By: Fanny Zhang
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly