Zenith Energy to Acquire Nordic Petroleum in All-Equity Transaction

Updated 1 year 10 months ago

Zenith Energy has formalized an offer to acquire Nordic Petroleum through exchange of equity. The proposed acquisition is structured to be for a minimum of 90% of the outstanding shares in Nordic with a proposed equity exchange of 100 Nordic shares for each Zenith share. Upon completion of the proposed acquisition of Nordic, Zenith intends to use Nordic as a vehicle to pursue the acquisition of mature production assets, as well as for potential participation in future licensing bids organised by the Norwegian Ministry of Petroleum and Energy.