Genel Energy, Bidco, and Capricorn Energy have agreed on terms for a recommended cash acquisition of Capricorn by Bidco, a company indirectly owned by Genel Energy. The deal values Capricorn's entire issued and to be issued ordinary share capital at approximately $360 million on a fully diluted basis. Capricorn shareholders will receive $3.75 in cash and a special dividend of $0.99 per share. The Capricorn directors intend to unanimously recommend that shareholders vote in favor of the scheme.
Capricorn Energy PLCCapricorn is being acquired at a premium with cash and special dividend.
Genel Energy PlcGenel's subsidiary Bidco is acquiring Capricorn, expanding its asset base.