After months of trying, Indonesia’s PT Medco Energi Internasional has succeeded in buying a controlling stake in Australia’s upstream company Novus Petroleum Ltd after a majority of its shareholders agreed to its A$350 million bid. In a statement to the Australian Stock Exchange, Medco said 60.2% of Novus shareholders had accepted its A$1.90 per share…
INDONESIA: Medco Energi succeeds in buying stake in Australia’s Novus
Posted on June 21, 2004 by EnergyAsia