Qalaa Holdings plans to increase its ownership interest in Egyptian Refining Co (ERC) by purchasing additional shares in its subsidiary Orient Investment Properties.
Based in Egypt, Qalaa Holdings is a private equity firm, while ERC is a downstream company.
The acquisition will strengthen Qalaa Holdings’ business in Egypt.
Continental Energy Corporation has signed a conditional financing arrangement with a refined petroleum products trading company to divest its 80% stake in PT Kilang Kaltim Continental (KKC).
The trading company will provide the funds required to develop KKC’s Maloy refinery. It will also be responsible for supplying feedstock to the refinery and delivering refined products.
Located in the East Kalimantan Province of Indonesia, the refinery has a planned capacity of 24,000 barrels of oil-equivalent a day (boed).
Based in the US, Continental Energy is a developer of small-scale crude oil refineries, while KKC is an Indonesian company that owns the license to build, own and operate the Maloy refinery.
Raven Energy has signed a binding letter of intent to purchase all of the issued shares of Xstate Resources’ subsidiary XGas.
XGas holds a controlling interest in the Dempsey Project in California, US.
Raven Energy will fund the acquisition by paying $0.5m upfront in cash and $0.46m upon closing the transaction.
Raven Energy will also pay A$0.5m ($0.37m) in cash or shares within 90 days of closing the acquisition.
The acquisition is expected to expand Raven Energy’s presence in the Sacramento Basin.
Lindsay Goldberg plans to divest 49% of its share in the Netherlands-based tank terminals operator Odfjell Terminals.
Marubeni Corporation has signed an agreement with an infrastructure fund established by Toesca Administradora General de Fondos to acquire Chilean natural gas distribution company GasValpo.
Marubeni Corporation is a Japanese integrated trading and investment business conglomerate, while Toesca is an asset management company based in Chile.
The acquisition will enable Marubeni to enter the South American natural gas distribution market, diversifying its existing infrastructure portfolio and expanding its footprint in the US, Europe and Australia.
