Hurricane Energy received 'conditional' proposals in sales process
11/01/2023 08:11
LONDON, Jan 11 (Reuters) - British oil producer
Hurricane Energy HUR.L said on Tuesday it had received
proposals in a formal sales process (FSP) which require further
study.
Hurricane in November put itself up for sale after receiving
a takeover proposal it rejected as too low. In December, its
largest shareholder Crystal Amber Fund CRSL.L called for a
vote on the removal of the firm's top management.
"Hurricane has received multiple proposals from credible
counterparties... as well as a number of less defined
expressions of further interest," the company said.
"All of the proposals received were highly conditional...
There can be no certainty as to the level of any offers
resulting from the FSP, if any. Hurricane will provide further
updates in due course."
(Reporting by Shadia Nasralla; editing by Jason Neely)
((Shadia.Nasralla@thomsonreuters.com; Reuters Messaging:
Reuters Messaging: shadia.nasralla.reuters.com@reuters.net))