Closing Of Didon/Zarat

abarrelfullabarrelfull wrote on 08 Jul 2014 07:19

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n November 30th, 2005, PA Resources AB formally closed the transaction relating to the previously announced acquisition of 78,78% in the producing field Didon and 35% in the field discovery Zarat situated offshore Tunisia. As a consequence of the agreed reconciliation of generated net income and capital expenditures incurred in the period from the technical takeover date January 1st , 2005 until closing date November 30th, 2005, the final purchase price has been adjusted from the originally agreed USD 230,0 mill. to USD 222,2 mill. The consolidation of financial accounts related to the 78,78% of Didon into Group accounts will take place as of the closing date.

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