Spanish hedge fund spends £7m to boost stake in Tullow Oil

Tullow’s shares have nearly doubled in value since start of year as it seeks to reduce its $2.4 billion debt

Barry J Whyte

Chief Feature Writer @whytebarry
7th March, 2021
Spanish hedge fund spends £7m to boost stake in Tullow Oil
In November, Tullow sold its assets in Uganda to Total in a deal that was worth $500 million

Azvalor, a Spanish hedge fund, has spent just over £7 million boosting its stake in Tullow Oil from 6 to 7 per cent, stock exchange filings show. It leaves the fund with shares worth just under £50 million at Tullow’s closing share price on Friday of just over 50 pence.

Tullow’s shares have nearly doubled in value since the start of the year, but remain substantially off their most recent highs of around £2.30 in the...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

€700m Kerry dairy deal ‘fell through over funding concerns’

Companies Lorcan Allen 2 days ago

Quanta acquires 82-acre data centre site in Dublin

Trustap approaches EU and US investors in €8m funding round

West Wood invests €300,000 to allow members exercise in outdoor areas