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.



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