Sea Dragon Energy Is Set to Take Over NPC Egypt, for Which it Is Paying $147.5 Million

摘要

The board of directors of Sea Dragon Energy has approved the acquisition, directly or indirectly, of all the issued and outstanding shares of National Petroleum Company Egypt Ltd. (NPC Egypt) from Golden Crescent Investments Ltd. (Golden Crescent) for a total consideration of $147.5 million (AOG, 1 Feb., 2012). NPC Egypt and Golden Crescent are both subsidiaries of the Egyptian company Citadel Capital. The two sides have concluded a non-binding agreement that extends to 8 August the deadline by which Sea Dragon will have to finalize the acquisition.