Sterling Resources has announced it has entered into an agreement to sell its SRUK Holdings subsidiary to Oranje-Nassau Energie for a net consideration of USD113 million, assuming the bonds are fully redeemed and the super senior revolving credit facility is cancelled. Sterling anticipates a completion date of 15th May.
Following Sterling’s recapitalization in May 2016, the board of continued to review and pursue various M&A opportunities to rebuild the business. Sterling considered a number of opportunities and alternatives, including mergers...
