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23 Feb, 2021 13:26 23 Feb, 2021 13:29

Premier Oil gets regulatory approvals for merger with Chrysaor

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Premier Oil said on Tuesday that all the regulatory conditions relating to its merger with Chrysaor have now been satisfied.

The company, which agreed last October to merge with Chrysaor, said that following receipt of notice from the Oil and Gas Authority, the regulatory condition to the transaction regarding both companies' licence interests in the UK has been satisfied.

The group has also received anti-trust approval from the Mexican Economic Competition Commission.

On Monday, Premier’s creditors approved the restructuring plan required for the merger to take place, and the reorganisation of its existing debt and cross currency swaps.

The restructuring plans now need to be sanctioned by the Scottish Court, Premier said, and assuming this occurs, the deal is expected to complete at the end of March. Premier Oil’s shares will then be readmitted to trading on 1 April, as Harbour Energy.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.