Brief: Gulf Navigation Submits Proposal To Acquire Brooge Petroleum And Gas Investment

Brooge Energy

03/10/2023 06:09

Oct 3 (Reuters) - GULF NAVIGATION HOLDING  GNAV.DU :
    * SUBMITS PROPOSAL TO ACQUIRE BROOGE PETROLEUM AND GAS
INVESTMENT
COMPANY
    * PROPOSED ACQUISITION WILL BE FUNDED THROUGH A COMBINATION
OF
CASH AND SHARES  IN GULFNAV
    * PROPOSED ACQUISITION IS STILL AT AN EARLY STAGE,
    * GULFNAV IS IN THE PROCESS OF CONDUCTING FURTHER DUE
DILIGENCE ON
BPGIC
    * LEGAL AND FINANCIAL ADVISORS CONTINUE TO EVALUATE THE DEAL
    * PROPOSED TRANSACTION EXPECTED TO CLOSE BY Q4 2023

Source text for Eikon:  ID:nDFAYzPWf 
Further company coverage:  GNAV.DU 

 ((Reuters.Briefs@thomsonreuters.com;))