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

2nd January 2018 By: African News Agency

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

Photo by: Bloomberg

JOHANNESBURG – 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.”