Ashmore Offers to Acquire Saudi Aramco's 40% Interest in the Filipino Refining Company Petron for 550 Million

摘要

Ashmore Group, a London-based investment fund, has offered to pay 550 million for the purchase of the 40% shareholding (comprising 3.75 billion shares) held by Aramco Overseas Company (AOC), a wholly-owned subsidiary of Saudi Aramco, in Petron Corp., the largest refining company in the Philippines, Petron disclosed in a note addressed to the Philippines stock exchange. Confirming that it had been informed of the offer by Saudi Aramco, Philippine National Oil Co. (PNOC), the other major shareholder in Petron with an interest of 40% as well, indicated that it was going to evaluate the bid and then decide whether or not to exercise its preemptive right to buy out AOC.