Dragon Oil Approached By Largest Shareholder

March 17 (Reuters) - Dragon Oil Plc said it had been approached by Dubai's Emirates National Oil Co Ltd LLC (ENOC), its largest shareholder, about a possible offer for its shares ENOC did not already own.

Dragon Oil's shares closed 12.5 percent higher on the London Stock Exchange on Tuesday.

ENOC, which owned 53.95 percent in Dragon Oil as of Feb. 17, said the offer was at a premium to Dragon Oil's closing share price of 509 pence as of March 13.

(Reporting by Esha Vaish in Bengaluru; Editing by Don Sebastian)

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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours