LONDON-- Gasol PLC (GAS.LN), an energy company focusing on gas
constrained countries, said Wednesday that its proposed acquisition
of Energie de Côte d'Ivoire S.A. won't proceed because conditions
of a sale and purchase agreement with GDF SUEZ E&P
International S.A can't be satisfied.
MAIN FACTS:
-Further to the conditional Sale and Purchase Agreement it
entered into with GDF SUEZ E&P International S.A. to acquire a
12% non-operating interest in Block CI-27 through the acquisition
of 100% of the issued share capital of Energie de Côte d'Ivoire SA
it has been informed on Feb. 18 that the seller has received
exercising notices in relation to the existing CI-27 Block
partners' pre-emption rights.
-The relevant condition in the SPA cannot therefore be satisfied
and, accordingly, the acquisition will not proceed.
-Company's shares restored to trading on AIM at 7.30 a.m. on
Feb. 19.
-Shares at 0832 GMT, up a penny, or 2.7%, at 19 pence valuing
the company at GBP6.1 million.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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