Africa Oil Announces Offer to Minority Shareholders in Impact Oil & Gas
VANCOUVER, BC, March 18, 2024 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) - Africa Oil Corp. (“Africa Oil”, or the “Company”) has made a cash offer (“Offer”) to acquire from minority shareholders in Impact Oil and Gas Limited (“Impact”) up to 8.0% of the issued shares in Impact. The Offer is made at a price of USD 0.728 per Impact share, for a consideration of up to approximately USD 64 million, which implies a valuation of USD 805 million for 100% of the issued share capital of Impact. Africa Oil currently holds a 31.1% shareholding in Impact. The share purchase is conditional upon