LONDON (Alliance News) - Natural resources investment company Polo Resources Ltd on Friday said it has accepted a cash offer from International Petroleum Holding BV for Polo's 2% equity interest in Equus Petroleum.
Polo will receive CAD1.4 million for the 5.5 million shares, and expects to face a loss of USD500,000.
Equus is an energy and petroleum company that operates oil and gas exploration and production activities in Central Kazakhstan through its Kazakh subsidiary Kumkol Trans Service LLP.
Shares in Polo closed up 7% at 6.15 pence on Friday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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