Eland Shareholders Approve £382m Takeover By Seplat
Shareholders of Eland Oil & Gas Plc have given overwhelming backing to the £382 million takeover of the company by indigenous oil & gas producer, Seplat Petroleum Development Company Plc. At two meetings of shareholders on Wednesday 20 November, resolutions in favour of the proposed takeover of Nigeria-focused Eland were approved by 99.9 per cent of votes cast. Subject to court approval, the takeover is expected to become effective on 17 December 2019. The cash takeover announced in October provided recognition of Eland’s achievement in building a successful exploration, development and production business…
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