First Dynasty sale faces delay

Article Abstract:

First Dynasty Mines Ltd. has announced that its planned sale of Energy Process Services Inc. to Equatorial Energy Inc. in Indonesia will likely be postponed because of the political instability in that place. The sale was supposed to have cost $40 million and closed by the end of June 1998. Energy Process controls 80% of Genindo Energy Process Services, which runs the Sembakung oil field in East Kalimantan province as a partner of a state-owned oil company. A First Dynasty official says $10 million has been obtained in an advance payment for the sale.

Comment:

Co's planned buy of Energy Process Services Inc from First Dynasty Mines Ltd in Indonesia to be delayed due to political unrest

Asset sales & divestitures, Indonesia, Oil & Gas Extraction, Oil and Gas Extraction, Gas industry, Petroleum mining, Article, First Dynasty Mines Ltd., Energy Process Services Inc., Equatorial Energy Inc.

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CRTC rejects sales of Quebec radio stations to TVA Group

Article Abstract:

TVA Group's plan to buy several radio stations in Quebec has been rejected by the Canadian Radio-television and Telecommunications Commission. TVA is leading a group that wants to buy the stations.

Canada, Strategy & planning, Radio Broadcasting, Quebec, Radio broadcasting stations, Radio Stations, Planning, Mergers, acquisitions and divestments, Radio broadcasting industry, Company acquisition/merger, Powers and duties, Company business planning, Canada. Canadian Radio-television and Telecommunications Commission, TVA Group Inc.

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