13th Jan 2016 11:32
LONDON (Alliance News) - Premier Oil PLC is understood to be holding advanced talks to acquire the UK North Sea assets of Germany energy giant E.ON AG, the Financial Times reported on Wednesday.
Premier Oil shares were temporarily suspended from trading on Wednesday morning ahead of an announcement concerning a potential acquisition which would constitute a reverse takeover.
E.ON is the operator of the Huntington field and owns production assets in the Elgin, Franklin, Glenelg, West Franklin, Scoter and Merganser field, the FT said, along with further operating and production assets in the area.
https://next.ft.com/content/926d627a-b9dc-11e5-bf7e-8a339b6f2164
By Sam Unsted; [email protected]; @SamUAtAlliance
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