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One-Page Deal Sheet

Petroceltic and Melrose Merge

Petroceltic International Plc Melrose Resources Plc
AnnouncedAug 17, 2012
TypeCorporate
Announced Date
August 17,2012
Close Date
October 11,2012
Transaction Type
Corporate
Enterprise Value (EV)($MM)
264




Snapshot
Location
Region
Europe

Country
United Kingdom


Transaction Details:  Subscribe to see

Petroceltic and Melrose Resources have agreed to merge in a deal that values Melrose at £165 million and will see Petroceltic shareholders having 54% of the enlarged entity and Melrose shareholders 46%.

The deal which is expected to close in October, is classed as a reverse takeover under the AIM rules and existing Melrose shareholders will receive 17.6 new Petroceltic shares in exchange for each Melrose share. The merger values each Melrose share at 143.9 pence and represents a premium of approximately 6.2% to Melrose’s closing price of 135.5 pence last night. Melrose shareholders will also…

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