From the Wires
Nordic Acquisition Co Ltd (NAC) Bids for Share Capital of Nordic Petrolumn ASA (NOP)
By: PR Newswire
Nov. 21, 2012 01:54 PM
LONDON, November 21, 2012 /PRNewswire/ --
A special purpose vehicle has been formed by Mauricio Trevino Zambrano to bid for the entire share capital of Nordic Petroleum ASA.
After 2 years of protracted negotiations between Mercom Oil Sands and Nordic Petroleum ASA with disagreements and un-workable contracts Mercom Oil Sands PLC seems to have reached a crossroads.
NAC has been formed to launch a bid for the entire share capital of Nordic Petroleum and is actively seeking willing shareholders to join in creating an exciting opportunity with a team that can raise capital, create value and effectively manage the assets.
Mr. Zambrano was instrumental in bringing the single largest contribution to the IPO of Mercom Oil Sands PLC and has a huge desire to see the transaction reap rewards and be successful.
Should an offer be successful NAC intends to offer the CHARD asset to Mercom but no discussion at board level or agreements to this effect are in place at this time.
An offer has been submitted to the board of NOP for good measure but NAC now seeks to deal only with NOP shareholders directly.
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