Sinopec Completes Acquisition of Tanganyika Oil Co.
Sinopec International Petroleum Exploration and Production Corporation and Tanganyika Oil Company Ltd. are pleased to announce that 60,570,221 Tanganyika common shares, which represent approximately 95.0% of the Tanganyika common shares on a fully-diluted basis, have been tendered to the offer dated Oct. 30, 2008 made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of Sinopec International. Since all of the conditions to the Offer have been satisfied, Mirror Lake has taken up and paid for all of the Tanganyika common shares tendered to the Offer. Mirror Lake intends to exercise its statutory rights under the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining Tanganyika common shares that were not deposited to the Offer as soon as practicable.
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Company: Tanganyika Oil Company more info
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