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Max Petroleum Plc commences formal sale process


Friday, 25 Jul 2014 12:50am EDT 

Max Petroleum Plc:Launches a review of strategic options open to the company with the intention of maximising value for shareholders.The review of strategic options may include a corporate transaction such as a merger with, acquisition of or subscription for the company's securities by a third party, a sale of the business or a farm down or disposal of assets.Discussions in relation to a merger with a third party or a sale of the company will take place within the context of a "formal sale process".Appoints Blackstone Group International Partners LLP (Blackstone) as exclusive financial adviser to conduct the formal sale process.Any interested party will be required to enter into a non-disclosure agreement with the company before being permitted to participate in the process.Following execution of an agreed non-disclosure agreement, the company intends to provide interested parties with information materials on the company.Following receipt of the materials, interested parties shall be invited to submit proposals to the company.Reserves the right to alter any aspect of the process as outlined above or to terminate it at any time and will make further announcements as appropriate.Reserves the right to reject any approach or terminate discussions with any interested party or participant at any time. 

Company Quote

1.075
-0.01 -0.92%
10:19am EDT