Purchase quest

QUESTE Communications is proposing to buy up almost 20 per cent of Anzoil in a deal which includes an 8 per cent $500,000 loan to the oil and gas junior with South-East Asian interests.

The loan and share acquisition deal with IGM Group, from which Queste is purchasing most of its Anzoil stake, forms a bid by the telecommunications company to achieve comparatively superior capital and income growth. Queste is completing due diligence and a number of other agreement conditions – including the sale of Queste’s stake in Suan Australia – are yet to be met, with possible settlement planned for March.