Zenith Energy, the energy company with proven revenue generating production, exploration and development assets in Africa and Europe, has announced that it has concluded a share purchase agreement ('SPA') with Hingbo Industries Company Limited, a company incorporated in Hong Kong, for the sale of a 51% interest in the issued, allotted, outstanding and fully paid-up share capital of its fully owned subsidiary, Zenith Energy Netherlands, for a nominal consideration.
Zenith Netherlands is currently dormant and has no assets.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
'We are pleased to welcome a new strategic financial investor in Zenith Netherlands, a company we shall use to pursue potentially highly prospective future acquisition opportunities on a joint venture basis. The Board looks forward with enthusiasm to updating shareholders on several fronts in due course.'
Source: Zenith Energy
