1st Mar 2019 18:23
LONDON (Alliance News) - Path Investments PLC said Friday the exclusivity period for its acquisition of ARC Marlborough Pty Ltd has been extended as the companies work towards a signed purchase agreement.
The acquisition was announced on January 18, the value of which has not been disclosed, by the energy investor.
A head of agreement period of exclusivity was granted to ARC to enter into a definitive purchase agreement on or by the end of February. However, while "progress has been made" toward signing a deal, it has not yet occurred.
"It is hoped to have the purchase agreement finalised in the coming weeks and accordingly the exclusivity period has been extended by mutual consent by one month," Path Investments said.
Shares in Path Investments are currently suspended.
Related Shares:
PATH.L