Gulfsands Petroleum
at Friday, March 26, 2010
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| State-owned IndianOil and Oil Intlia Ltd today confirmed making an 'approach' to takeover the West Asia-focused oil firm Gulfsands Petroleum Pick for an undisclosed cash amount. OIL and IndianOil confirmed that they have jointly made an "approach regarding a possible all-cash offer for Gulfsands," the two firms said in a joint statement to the London Stock Exchange. Sources said the OIL-IndianOil combine did not make a formal bid, but had approached a major shareholder in Gulfsands offering around 315 pence pet share to buy its 22 per cent stake. |
Statesman, Kolkata, March 24, 2010
