Middle East Economic Survey
VOL. LII
No 39
28-Sep-2009
LIBYA
Libya Agrees To Buy Verenex At A Discount After Blocking Chinese Deal
Canadas Verenex Energy has agreed to a pre-emptive Libyan buyout offer of $7.09/share, or around 25% less than what state-owned Chinese firm CNPC offered the company in February. The memorandum of understanding (MOU) that it announced on 18 September appears to have resolved the standoff between Verenex and the Libyan authorities, who failed to consent to the Chinese...
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