Thailand’s PTT Exploration and Production Public Company Limited or PTTEP has acquired the entire shares capital of Cove Energy Plc. The Offer process is declared wholly completed. On August 15, 2012, PTTEP received written consent to the indirect change of control in Cove from the Republic of Mozambique’s Minister of Mineral Resources. This consent was [...]
Thailand’s PTTEP, has announced that on 31 July 2012 at 1.00 p.m. (London time) PTTEP Africa Investment Limited or PTTEP AI, a wholly owned subsidiary of PTTEP has received valid acceptances from Cove Shareholders 91.37% of the existing issued share capital of Cove which is satisfactory to PTTEP AI’s requirement. Tevin Vongvanich, the President and [...]
Cove Energy plc, the AIM quoted upstream oil and gas company announces the completion of the divestment of its 16.38% participation interest in the production operations (20.475% participation interest in exploration operations) in the Mnazi Bay Concession, Tanzania to Wentworth Resources Limited. Cove’s interest in the Concession, which was held by the Company’s 100% owned [...]
Thailand’s PTTEP has received written consent from the Republic of Mozambique’s Minister of Mineral Resources related to the indirect acquisition of Cove Energy’s interest in Rovuma Offshore Area 1 which would arise on the takeover of the company. The receipt of this written consent can confirm that Mozambique’s government has strong confidence and trust in [...]
Shell Bidco, a subsidiary of Shell, which has been competing with Thailand’s PTTEP over Cove Energy acquisition announced today that it was aware of PTTEP’s yesterday’s increased takeover bid of $1.9 billion. Shell’s previous $1.8 billion bid to acquire all issued or to be issued shares of UK-based Cove Energy had been endorsed by the [...]
Cove Energy, a UK oil and gas company with primary assets in East Africa, yesterday urged its shareholders to accept the $1.8 billion takeover bid from Shell before May 23, the first closing date for the offer from Shell. The board of Cove, having already endorsed the offer, has said it continues to believe that [...]
The Government of Mozambique has given its consent to the offer made by Shell to acquire the company and its 8.5 per cent participating interest in Rovuma Offshore Area 1 which would arise on the takeover. Cove said it “received written confirmation from the Government that it consents to the offer for Cove announced by [...]
Shell Bidco, a subsidiary of international supermajor, Shell, has increased its Cove Energy takeover bid. The company has placed a bid of around USD 1.8 billion which is a significant increase when compared to the initial USD 1.56 bln that Shell offered in February. Shell’s February bid was cancelled only two days after having been [...]
Thailand’s PTTEP has entered into the race with Shell over Cove Energy’s shares. PTTEP’s President and CEO Anon Sirisaengtaksin revealed that the company would be willing to pay 220 pence for each Cove’s issued or to be issued share. The proposed offer values Cove at approximately USD 1.77 billion which is higher than the USD 1.56 billion bid [...]
Shell’s subsidiary, Shell Bidco has placed a bid £992.4 million (USD 1.56 billion) to acquire the entire issued and to be issued share capital of UK headquartered Cove Energy. The bid comes one month after the decision announced by Cove to conduct a formal sale process for the company. Shell Bidco is a participant in the [...]
