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reneleveqon Dec 22, 2012 4:56pm
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Citadel says SDX.V, Shukeir takeover deal finalize
Citadel says SDX.V, Shukeir takeover deal finalize
Citadel says Sea Dragon, NPC Shukeir takeover deal finalized
17 December 2012 10:18 AM Updated : 17 Dec 2012 12:42 PM
In a filing posted on EGX website today, leading private equity firm Citadel Capital announced that portfolio company National Petroleum Company Egypt Ltd. (NPC Egypt) has divested the National Petroleum Company Shukheir Marine Ltd.
The acquiring party is Sea Dragon Holding Ltd., a subsidiary of Sea Dragon Energy of Canada. Under the terms of the share purchase agreement, Sea Dragon Holding Ltd. will pay NPC Egypt US$ 250,000 in cash at closing while also assuming at closing responsibility for c. US$ 3 million of the National Petroleum Company Shukheir Marine Ltd.’s existing accounts payable.
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