A deal has been finalised for the takeover of London-listed Heritage Oil, which holds assets offshore Nigerian in OML 30, offshore Malta and onshore East Africa.
The independent is being acquired by Energy Investments Global Ltd., a subsidiary of Middle East Al Mirqab Capital SPC, which is reportedly controlled by Qatar’s royal family, in a deal valuing it at about US $577 million (£924 million) through a court-sanctioned scheme of arrangement. The scheme became effective on 30 June.
Al Mirqab indicates that the acquisition of Heritage give access to high growth, a producing asset base as well as an international exploration portfolio. Tony Buckingham, the largest shareholder in Heritage and its CEO and founder, with 34% equity, has agreed to work with Al Mirqab.
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