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Indonesia's Medco to buy Ophir Energy
Jan. 31, 2019
Source: Reuters

Indonesia's Medco to buy Ophir Energy

In a major acquisition move, Indonesia’s Medco Energi has settled to acquire London-based Ophir Energy in $511 million. Medco’s recent offer followed the previous offer of $437 million which Ophir rejected stating that it undervalued the company. The Jakarta-based oil and gas group is looking to expand its reach to international assets. Post-acquisition, Medco will gain rights to assets in Tanzania and Mexico.

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