Wednesday, February 27, 2013

Will Pertamina take over Maurel&Prom ?

The Indonesian public company Pertamina has filed an indicative offer to purchase independent oil company  Maurel & Prom, reported Sunday the Sunday Telegraph, quoting sources close to the counterparts.

Pertamina is working with Société Générale on this offer, which could reach 19 euros per share, according to the British Sunday newspaper.

Maurel & Prom is regularly the subject of speculations around offers to purchase on the part of majors in the sector. In June 2012, the title had flamed as a result of an article in the British newspaper Daily Mail reporting that Shell (RDSA.LN) was planning to launch a takeover bid for the group, information which was contradicted by the Chairman of Maurel & Prom, Jean-François Hénin.

In November, Bloomberg had in turn said that Maurel & Prom was coveted by China Petroleum & Chemical (SNP), or Sinopec. Maurel & Prom had not wanted to provide any comment.

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