23rd Sep 2014 10:37
LONDON (Alliance News) - Australia-listed Dart Energy Ltd on Tuesday said the New South Wales government has given its approval for a change in control of its licences in the state under the acquisition of the company by IGas Energy PLC.
The acquisition of Dart still has other conditions to meet, including securing approval from the UK Competition and Markets Authority and the Supreme Court of Queensland, IGas said in a statement welcoming the approval.
IGas said back in August that its proposed acquisition of Dart Energy Ltd remains recommended by shareholders but said a report from Deloitte Touche Tohmatsu Ltd has changed its official opinion on the deal due to the drop in IGas' share price.
IGas shares were down 0.3% to 92 pence per share on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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