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Boards of Directors Approve Merger of RAK Petroleum MENA Operating Subsidiaries into DNO International
Following completion of due diligence and agreement on relative valuations, the Boards of Directors of DNO International ASA ("DNO International") and RAK Petroleum PCL ("RAK Petroleum") signed definitive documents on 3 September 2011 to merge RAK Petroleum's oil and gas operating companies into DNO International in exchange for DNO International shares (the "Transaction"). The Transaction values DNO International at USD 1.64 billion corresponding to NOK 9.50 per share and RAK Petroleum's operating subsidiaries at USD 250 million (before working capital adjustments).

date.png06 Sep 2011 12:01 | comments.png 0 Comments | tags.png deals dno rak [ More ]
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