12th Jan 2021 19:08
Premier Oil PLC - oil and gas company with operations in countries including Mexico, the UK, Vietnam, and Brazil - Shareholders approve all-share merger with Chrysaor Holdings Ltd. Deal still faces regulatory hurdle from the the Scottish Court. The Scottish convening hearing is expected to take place on January 25. Premier expects the deal to close in the first quarter.
In October, Premier Oil agreed to merge with Harbour Energy's UK operating firm Chrysaor through a reverse takeover, retaining its London listing. Once complete, Premier Oil will change its name to Harbour Energy PLC, and will have a combined board of 11 directors, including Linda Cook, the current Harbour chief executive, who will be CEO of the combined group. Chrysaor's CEO, Phil Kirk, will be president of the combined group and CEO of Europe.
Current stock price: 22.11 pence
Year-to-date change: up 13%
By Paul McGowan; [email protected]
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