Sona “confident” of securing SC approval for Salamander deal

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KUALA LUMPUR (Sept 23): Sona Petroleum Bhd managing director Datuk Seri Hadian Hashim said he is “confident” of getting an approval from the Securities Commission to complete its first qualifying asset buy.

The oil and gas special purpose acquisition company is in the midst of acquiring a 40% stake in UK-listed Salamander Energy Plc’s Thai unit for US$281.2 million.

It said the regulator’s decision will likely be known by next month and the deal ought to be completed by year-end.

When asked if Sona has any contingency plans if the regulator does not approve the acquisition, Hadian said Sona “will go back to the drawing board” to look for another asset.