Arab Today, arab today exdno boss offers to buy stake to derail rak
Last Updated : GMT 11:09:12
Arab Today, arab today
Arab Today, arab today

Ex-DNO boss offers to buy stake to derail RAK

Arab Today, arab today

Arab Today, arab today Ex-DNO boss offers to buy stake to derail RAK

Dubai - Arabstoday

Former DNO International chairman Berge Gerdt Larsen offered to buy as much as a third of the Norwegian oil producer’s shares in an attempt to derail a deal with RAK Petroleum. Petrolia, the Norwegian oil services company controlled by Larsen, said it offered 10 kroner apiece for as much as 33.33 percent of the outstanding shares of DNO. It would then seek to realize a minimum price of 12 kroner a share. “In order to maximize value for all DNO shareholders it is necessary for the company to be restructured, merged or potentially sold,” Oslo-based Petrolia said in a statement today. DNO agreed in September to merge with the petroleum units of its largest shareholder, in a deal valuing it at $1.64bn, or 9.50 kroner a share, and RAK’s operating subsidiaries at $250m. Larsen has said the merger undervalued DNO and blocked a possible higher bid from other interested parties. Seventy-seven percent of shareholders voted in favour of DNO merging with RAK in exchange for DNO shares at an extraordinary general meeting in Oslo last week. Petrolia said the result of the meeting had not “added any material value” for DNO shareholders. DNO rose as much as 8 percent to 7.39 kroner and was up 4.7 percent as of 10:03 a.m. in Oslo. The stock has fallen 21 percent this year. Petrolia jumped 11 percent. DNO was the first foreign company to begin pumping oil in Iraq since the 1970s.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exdno boss offers to buy stake to derail rak Arab Today, arab today exdno boss offers to buy stake to derail rak

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday