Middle East Economic Survey

VOL. LII

No 34

24-Aug-2009

syria

Sinochem Offers To Take Over Emerald Energy

Chinas Sinochem Corporation, via its wholly-owned subsidiary Sinochem Resources UK, has offered to take over the shares of UK-based Emerald Energy, in a bid to gain access to the latters oil and gas operations in Syria and Colombia. Under the terms of the proposal announced on 12 August, Emerald Energy shareholders will be entitled to receive 750 pence in cash for each share, valuing the entire...