Kuwait Energy Confirms Termination of Merger Discussions
Kuwait Energy plc has confirmed that merger discussions with SOCO International plc have been terminated.
In a company statement, Kuwait Energy said the parties could not reach an agreement on mutually acceptable transaction terms.
“The board of Kuwait Energy remains committed to serving the best interest of all its stakeholders and continues to consider and assess its options to create the desired liquidity for its shareholders,” Kuwait Energy said in a company statement.
On January 8, Kuwait Energy revealed that it was in preliminary discussions with SOCO regarding a possible merger.
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