April 30, 2014 / 6:17 AM / 3 years ago

Heritage agrees to be bought by Qatari fund for $1.6 bln

LONDON, April 30 (Reuters) - British oil company Heritage Oil said on Wednesday it had agreed a 924 million pound ($1.6 billion) takeover offer from Al Mirqab, an Qatar investment vehicle.

Heritage, whose main oil production is in Nigeria, said it was recommending the 320 pence per share offer, which represented a 25 percent premium to its closing price on Tuesday.

$1 = 0.5936 British Pounds Reporting by Sarah Young; editing by Kate Holton

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