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Qatari firm acquires Heritage Oil for $1.55bn

: Thursday, May 01 - 2014 @ 11:23

Qatar-based Al Mirqab Capital has made a cash offer valuing Heritage Oil Plc at £924m ($1.55bn), Bloomberg has reported. Heritage holds stakes in onshore oil fields in Nigeria and exploration rights in Papua New Guinea. Tony Buckingham, the company’s founder and chief executive officer, will retain a 20% holding and serve as an adviser for at least five years.

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Thursday, May 1- 2014 @ 11:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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