Thursday 2 July 2015

Enoc sets Dragon Oil deadline with official £3.7bn buyout offer | The National

Enoc sets Dragon Oil deadline with official £3.7bn buyout offer | The National:



"Emirates National Oil Company (Enoc) officially launched its offer to buy out minority shareholders in Dragon Oil at 750 pence a share yesterday.



The move, which confirms an offer price floated last month, starts the clock under Irish Stock Exchange rules. This means the minority shareholders have until July 30 to decide whether or not to accept.



Enoc already owns 53 per cent of Dragon Oil, whose main asset is an oilfield in Turkmenistan that reached a production rate last month of about 100,000 barrels per day."



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