Hague and London Buys Tullow Dutch Production Assets For EUR4.8 Million
10 Abril 2017 - 3:52AM
Dow Jones News
LONDON-- Hague & London Oil PLC (HNL.LN) Monday announced of
gas production assets in the North Sea from Tullow Oil PLC's
(TLW.LN) Netherlands arm for an enterprise value of 4.8 million
euros ($5.1 million).
Tullow Netherlands Holding Coöperatief B.A. will receive EUR9.8
million when the deal completes plus EUR20 million in contingency
payments between 2019 and 2012, H&L said.
The deals counts as a reverse takeover given its size, said
H&L, whose shares were suspended on April 4 due to it being in
talks about the acquisition.
An enterprise value of a company takes account of its cash and
debt.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
April 10, 2017 02:37 ET (06:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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