Africa Oil Corp (TSE:AOI) has released an update.
Africa Oil Corp. has extended a cash offer to acquire up to 8% of the minority shares in Impact Oil and Gas Limited, at a price of USD 0.728 per share, valuing Impact at USD 805 million. This move is contingent on the completion of a previously announced farm down transaction involving Impact’s Namibia assets. The offer is part of Africa Oil’s strategy to solidify its position as a leading independent E&P company in the Orange Basin, complementing ongoing share buy-back and dividend programs.
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