1st Feb 2019 10:26
LONDON (Alliance News) - Path Investments PLC on Friday said it agreed to sell its Turkish interests to businessman Server Fatih Alpay for GBP400,000.
The energy investment company, under the terms of the deal, has transferred its 5% shareholdings in each of ARAR Petrol Ve Gaz Arama Uretim Pazarlama Anonim Sirketi and Alpay Enerji AS to Alpay.
Path Investments Chief Executive Officer Christopher Theis said: "We are delighted to have entered into the sale transfer agreement with Server Fatih Alpay. This transaction marks the welcome withdrawal of our oil and gas interests in Turkey."
Path Investments shares are currently suspended from trading as its pursues a reverse takeover of ARC Marlborough Pty Ltd for undisclosed sum. ARC Marlborough owns a mining tenement in central Queensland, Australia.
Related Shares:
PATH.L