Tuesday July 14, 2020

Worldview to invest €100m in Petroceltic gas assets

Russian investment group paying up to €10 million to buy explorer out of examinership

Ian Guider

Markets Editor

@ianguider
22nd May, 2016
Petroceltic chief executive Brian OCathain Pic: Maura Hickey

Worldview Capital Management plan to invest up €100 million over the next three years to develop Petroceltic’s Algerian gas assets, after finally wresting control of the cash-strapped Irish explorer.

Worldview, the Russian investment group, is paying between €7 million and €10 million to buy Petroceltic out of examinership. Shareholders will be wiped out under the deal, but debt to secured lenders will be paid in full, The Sunday Business Post understands.

The company...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

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.

Team Pass

Get a Business Account for you and your team

Related Stories

The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures

Tom Maguire | 2 months ago

What’s coming up today and what you might have missed

Hannah O’Brien | 6 months ago