Exillon Energy to Explore Sale

Reuters

Sept 18 (Reuters) – Russian oil producer Exillon Energy Plc said it may sell the company, two months after its founder, Kazakh businessman Maksat Arip, made an initial approach.

Exillon said on Wednesday that it had received additional preliminary and conditional approaches in relation to an acquisition of the company and had appointed Goldman Sachs International as financial adviser.

Arip, the company's largest shareholder with a 30.17 percent stake, had approached the company in late July.

The Kazakh businessman was to announce by Aug. 27 if he was interested in making a firm offer for the company, but the deadline was extended to Sept. 27.

Shares in Exillon, which floated in London in December 2009, have risen about 23 percent since Arip made his initial approach. They were up 16 percent at 180.43 pence at 1001 GMT on the London Stock Exchange.

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours