Saffron announces the termination of the Po Valley Operations acquisition deal from Po Valley Energy (ref. DEA 22 Jan â18), âgiven the rapid pace of development of the company's activities in South East Asiaâ. The Saffron board has expressed the desire to limit upfront equity dilution, hence this termination.  Saffron plans to announce its first proposed acquisition SE Asia in the next few weeks.  For the record, the Po Valley deal involved Sound Energy disposing of Appenine Energy (Sound Energy Holdings Italy Ltd) and PVO to Saffron in a share deal. 
Po Valley Energy has pulled out of a deal that would have seen it sell its northern Italian gas assets to Saffron Energy.