Maha to Exercise the Call Option for PetroUrdaneta in Venezuela Following OFAC's Publication of General License 52
Maha Capital AB (publ) (“Maha” or the “Company”) has today approved to exercise the call option to acquire 24% indirect equity interest in the Venezuelan oil company PetroUrdaneta, with the consequent payment of EUR 4.6 million. The decision was reinforced by OFAC’s publication today of Venezuela-related General License 52 (“GL 52”), authorizing transactions involving Petróleos de Venezuela, S.A. (“PdVSA”), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, “PdVSA Entities”), by an established U.S. entity. Maha intends to transfer the shares to be indirectly held in PetroUrdaneta to its existing US subsidiaries, observing the provisions of GL 52 for such purpose.
