Joma to make mandatory offer for CAT oil (updated)

Petro Welt Technologies AG

31/10/2014 16:43

* Virgin Islands company to make cash offer after buying 
stake 
    * CAT Oil shares gain 3.6 pct 
 
 (Adds CAT oil comment, background) 
    VIENNA, Oct 31 (Reuters) - British Virgin Islands-based Joma 
Industrial Source acquired an indirect 47.7 percent voting stake 
in CAT oil AG  O2C.DE  this week and will make a mandatory offer 
to other shareholders of the German-listed Austrian company, 
Joma said on Friday. 
    "Joma Industrial intends to offer the shareholders of C.A.T. 
oil AG...a price in cash equalling the domestic weighted average 
stock exchange price of the C.A.T. oil share during the last 
three months prior to the publication of the acquisition of 
control," it said in a regulatory release. 
    A spokeswoman for CAT oil said it had taken notice of the 
release from Joma and would comment on it later.       
    CAT oil shares closed up 3.6 percent at 15.20 euros, off a 
session high at 15.94. 
    CAT oil's operations focus on Russia and Kazakhstan, with 
customers including Lukoil, Rosneft, TNK-BP, Gazprom and 
Kazmunaygaz. It specialises in boosting the productivity of 
wells via hydraulic fracturing, or "fracking". 
    The release said Maurice Gregoire Dijols was among the 
investors who had acquired indirect control of CAT via the deal. 
It was not immediately clear whether this was the same Maurice 
Dijols who was head of oil services company Schlumberger Russia. 
 
 (Reporting by Shadia Nasralla and Michael Shields) 
 ((Michael.Shields@thomsonreuters.com; +43 1 531 12 258; Reuters 
Messaging: michael.shields.thomsonreuters.com@reuters.net)) 
 
Keywords: JOMA CAT OIL/OFFER