PTTEP to finalise Cove acquisition
- Published: 18 Aug 2012 at 00.00
- Newspaper section: Business
PTT Exploration and Production Plc (PTTEP) will soon begin the process of acquiring the remaining 5.68% of Cove shares from Cove shareholders who have not yet accepted the offer.
Tevin Vongvanich, the president and chief executive, said PTTEP Africa Investment Ltd (PTTEP AI), a wholly owned subsidiary of PTTEP, successfully acquired all of Cove Energy Plc's share capital.
On Wednesday, PTTEP received written consent for the indirect change of control of Cove from the Mozambican Mineral Resources Ministry. PTTEP's bid was accepted by 91.37% of Cove shareholders last month.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
