Soco terminates merger talks with Kuwait Energy

Merger talks between London-listed Soco International and MENA-focused Kuwait Energy have been terminated as the two parties could not reach an agreement. 

Soco announced that it was in preliminary discussions with the newly-constituted board of directors of Kuwait Energy regarding a potential transaction on January 8, 2018.

On Monday, March 5 Soco confirmed that it has terminated these discussions because it could not reach agreement with Kuwait Energy on the basis for an acceptable transaction.

Soco said it evaluates M&A opportunities with reference to strict strategic, financial and operational criteria and only pursues transactions if they are determined by Soco’s board to be in the best interest of shareholders. Soco’s board continues to evaluate opportunities in accordance with these criteria, said the company.

Soco International has assets in Vietnam, Congo, and Angola. Kuwait Energy’s portfolio currently consists of ten exploration, development and production oil and gas assets in Egypt, Iraq, Yemen and Oman. Kuwait Energy currently produces oil from six of its assets.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

4th Oil and Gas Tanzania 2018 Products & Eqpt. Exhibition in Africa

It is truly remarkable how East Africa, and specifically Tanzania has in a short period of time become the main…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

RIO OIL & GAS 2018

The leading oil and gas event in Latin America is organized every two years by the Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply