Mitsui

PTTEP bids above $1.9 billion cash to acquire Cove The state owned company PTT Exploration and Production Public Company Ltd (PTTEP) announced the terms of its new offer in cash to acquire the entire issued and to be issued share capital of Cove Energy plc. Since Shell and PTTEP from Thailand were competing to take over Cove Energy (Cove), Shell had made a first offer […]

The $3.6 billion ERC Refinery to move on again  The Mostorod Refinery project had been left on hold for more than one year because of the political context in Egypt while Egyptian Refining Company (Takrir) S.A.E. (ERC), a special purpose company established by Citadel Capital, has awarded the engineering, procurement and construction (ECP) contracts to a consortium of […]

Shell proposes $1.8 billion cash to acquire Cove Since Shell and PTTEP from Thailand were competing to take over Cove Energy (Cove), Shell had made a first offer based on $0.195 per share, representing $1.57 billion capital expenditure for the acquisition. Then PTTEP submitted a $1.78 billion cash counter offer valued on $0.220 per share. Then Shell came back with a proposal based on $1.8 […]