| Deal Description | Natomas Company used the net proceeds from this transaction primarily to increase its investment in its petroleum exploration, refining, and marketing business or as collateral to support foreign borrowings for that purpose. A portion of the proceeds was used to repay all of the company's term unsecured bank loans. At the time of the deal, the company was seeking to acquire additional petroleum exploration and development rights in Indonesia. The balance of the proceeds was available for general corporate purposes, including a possible futher investment in West Indies, and possibly in new ventures in which the company was not then engaged. |
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