Dubai-based Emirates National Oil Company (ENOC) has confirmed it has received acceptances of its €5.7bn offer to acquire Dragon Oil shares representing 41.9%.
Earlier in August, Dragon Oil had announced that the process for delisting Dragon Oil Shares from the Irish Stock Exchange and London Stock Exchange had commenced and is expected to take effect from September 7th.
As a result, the last day of trading of Dragon Oil Shares on the Irish Stock Exchange and London Stock Exchange will be September 4th.
Saif Al Falasi, chief executive, ENOC, said: “We look forward to taking operational control of Dragon Oil and integrating the company into the ENOC Group, moving another step closer towards creating a fully integrated oil and gas company.”
Established in 1993, ENOC’s primary focus has been to develop downstream and upstream activities in the oil and gas sector. The company currently employs 6,000 people worldwide.
Photo: Paul Lowry