Deals
Malaysia’s Sona Abandons Plan to Buy Salamander’s Thai Assets
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Malaysia’s Sona Petroleum Bhd. abandoned its plan to buy a stake in two Thai oil and gas blocks, as companies reset how they value energy assets in the wake of a plunge in crude prices.
Sona, created in 2011 as a vehicle to purchase oil and gas fields, agreed in June to buy 40 percent of London-based Salamander Energy Plc’s Thai blocks for $281 million. The assets have been the subject of a tussle with Ophir Energy Plc, which separately agreed to buy Salamander on condition that it retain the blocks in the Gulf of Thailand.