Updated Wednesday, November 4, 2009 11:23 am TWN, Reuters

Dubai's Enoc agrees on US$2 bil. bid for Dragon

LONDON/DUBAI -- Dubai's Emirates National Oil Company (Enoc) agreed to pay US$1.9 billion to take control of Dragon Oil in a further push by the state-owned refiner into exploration, even as the emirate grapples with a huge debt burden. Dragon's committee of independent directors advised investors to accept the 455 pence a share bid for the 48 percent of the Turkmenistan-focused oil explorer that Enoc does not own. The offer values Dragon at 2.36 billion pounds (US$3.88 billion).

Subscribe to The China Post and save 25%. Click here

Share

Print

Email

Company Focus Breaking News

Updated Sunday, November 22, 2009 12:39 am TWN
▪	Hershey mulls US$17 bil. solo bid for Cadbury: source
▪	Barnes & Noble says Nook reader sold out
▪	Honda tops again in efficiency on U.S. roads
▪	Valero to close money-losing refinery
▪	GTSM launches online int'l bond trading

Most Read

▪	ROAD PROJECT BEGINS
▪	TES embraces renewable energy
▪	Strong Asia presence at Saint Laurent auction
▪	China says 42 dead, 66 trapped in mine explosion
▪	17 arrests in soccer match-fixing probe: police

Sponsors
▪	Get Car Hire Asia, Thailand, Middle East, Cyprus, Dubai, USA
▪	Business Directory