Aabar Energy gets new offer from Mubadala
Posted: 10 March 2008
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Abu Dhabi’s Mubadala Development Company has offered to buy 100% of the shares owned directly or indirectly by Aabar Energy’s subsidiary, Pearl Energy Limited, for $833 million, Aabar Energy has announced.
State-owned Mubadala has previously offered the Abu Dhabi-based upstream company to buy 90% of its shares in its subsidiary Pearl Energy for $877 million.
The sale and purchase agreement are to be agreed and executed by the parties thereto no later than 30 June 2008, the company said.
Pearl Energy, is engaged in upstream activities in Southeast Asia , with its operation in Thailand ’s Jasmine oil development . Currently, it has a net production around 19,000 barrels of oil per day. |
