Business 2.1.2018 10:20 am

Oil and gas firm Efora says deal to buy Belton Park lapses

 Image by © Imaginechina/Corbis

Image by © Imaginechina/Corbis

The acquisition agreement has lapsed due to certain outstanding conditions not being fulfilled.

Oil and gas company Efora Energy said on Tuesday its agreement to acquire the assets and operations of Belton Park Trading 134 had lapsed after outstanding conditions were not fulfilled.

In October, Efora said it was buying Belton Park, which markets and sells petroleum products for an aggregate purchase consideration of R220 million.

“Shareholders are hereby advised that certain outstanding conditions precedent to the acquisition were not fulfilled,” it said on Tuesday.

“Accordingly, the acquisition agreement has lapsed.”

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