US EMPS to take control of Caspian Services Group

Feb 20, 2002 01:00 AM

EMPS, a US company based in Salt Lake City, announced that it had arranged to acquire 100 % of shares in Caspian Services Group (CSG), which provides support services to investors working at oil and gas fields in western Kazakhstan and the Kazakhstani part of the Caspian Sea.
EMPS signed a letter of intent to this effect with shareholders in CSG, which is registered in the British Virgin Islands, on February 12. EMPS' President Louis Naegle said that the two sides were on track to finalize the acquisition agreement within 10 days and complete the transaction within 45 days. The takeover will be carried out via an exchange of stock and will lead to "a change in control" at EMPS.

CSG's main offices are located in Almaty, the former capital of Kazakhstan; the company uses these offices as a base to provide services to companies working at oil and gas fields in western Kazakhstan and the offshore zone.

Source: NewsBase
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