Ophir Agrees to Be Bought by Medco for $511 Mln

Wednesday, January 30, 2019

Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.

The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec. 28, the last trading day before Medco first announced a possible offer for the London-listed company.


($1 = 0.7644 pounds)

(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)

Categories: Mergers & Acquisitions Industry News

Related Stories

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Mubadala Energy Open to Sell Andaman Gas for Domestic Use

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Turkey Discovers New Black Sea Gas Reserve

Indonesia Grants Approval to Kuwaiti Firm for Anambas Block in Natuna Sea

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Current News

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

BW Opal FPSO Vessel set for Work off Australia

Keyfield Ventures into Indonesia’s Oil and Gas Market with New Partner

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com