Petroceltic takes over Melrose Resources

UPDATE: The oil and gas exploration firm Petroceltic is taking over British exploration company Melrose Resources.

17th August, 2012
Brian O'Cathain, Petroceltic CEO

The oil and gas exploration firm Petroceltic has announced a takeover of British exploration company Melrose Resources for stg£165 million.

Under the terms of the deal Melrose shareholders will receive 17.6 new shares in Petroceltic for each share in Melrose held.

Existing Melrose shareholders will hold 46 per cent of the enlarged company while Petroceltic shareholders will hold 54 per cent.

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