Richland signs CSPA to acquire stake in Ramba TAC
Thursday, July 10 2008 - 01:47 AM WIB
Singapore Exchange-listed firm Richland Group Limited announced on Thursday that it has signed conditional sale and purchase agreement (CSPA) with TriStar Global Holdings Corporation for the acquisition of 75% stake in Elnusa Tristar Ramba Limited (ETR) for US150 million.
The CSPA was signed in July 9, 2008.
ELTR has 60 percent interest in Ramba TAC, an oil producing block located onshore South Sumatra. (alex)