E.On has signed an agreement to sell 10% of its shares in its UK E&P subsidiary to the independent E&P company Premier Oil plc. The transaction has been valued at $120m. Rumours related to the purchase of E.On’s E&P North Sea assets in the UK for €150m by Premier Oil made the management of the latter request for its shares to be suspended as the transaction could be classified as a reverse takeover, since the price proposed is larger than the market size of the company
13 Jan 2016
Disposal of North Sea E&P assets completed
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Disposal of North Sea E&P assets completed
E.ON SE (EOAN:WBO) | 0 0 1.3% | Mkt Cap: 17,847m
- Published:
13 Jan 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
2
E.On has signed an agreement to sell 10% of its shares in its UK E&P subsidiary to the independent E&P company Premier Oil plc. The transaction has been valued at $120m. Rumours related to the purchase of E.On’s E&P North Sea assets in the UK for €150m by Premier Oil made the management of the latter request for its shares to be suspended as the transaction could be classified as a reverse takeover, since the price proposed is larger than the market size of the company