17th Jun 2019 11:43
(Alliance News) - Path Investments PLC said Monday it has broadened its search for potential investment opportunities into the natural resources sector, from just the energy sector prior.
This follows discussions to acquire 5P Energy GmbH and ARC Marlborough Pty Ltd that fell through.
In November, the investment firm said 5P decided not to continue with the farm-in agreement, as it was not possible to reach a deal with the vendors that would satisfy all the parties involved.
The deal would have included the acquisition of a 50% stake in the Alfeld-Elze II licence and gas field in Germany.
Also in March, Path Investments withdrew from the acquisition of Australian miner ARC Marlborough following due diligence.
Path Investments said it is currently evaluating several opportunities, focussing on the acquisition of development of producing and near producing natural resources assets in "fiscally and politically stable" economies.
"We were very disappointed that the proposed transactions with 5P Energy and ARC Marlborough did not proceed to completion. However, we continue to evaluate a number of opportunities in the natural resources sector. We believe that we will be able to complete a transaction that can deliver significant value for Path shareholders and I look forward to providing updates in due course," said Chief Executive Christopher Theis.
Shares in Path Investments are currently suspended in London.
Related Shares:
PATH.L