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Provider: Reuters Investment Profile
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Africa Oilfield Logistics Ltd Buys 49% Of Ardan Risk & Support For $4 Million-DJ


Monday, 5 Aug 2013 08:11am EDT 

Dow Jones reported that Africa Oilfield Logistics Ltd said it has bought a 49% interest in Ardan Risk & Support Services for $4 million, satisfied by the allotment of 33 million new ordinary shares at 8 pence each. Ardan is a cash generative oilfields and logistics business with operations currently in Kenya, Ethiopia and Mauritius. Africa Oilfields has been granted exclusivity, for 180 days, to buy the remaining 51% interest in Ardan. Africa Oilfield to provide loan funding to drive growth through increasing Ardan's market share and expansion into new jurisdictions. 

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5:55am EDT