Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE's Rak Petroleum merges subsidiaries into Norway's DNO  Join our daily free Newsletter

MENAFN - - 11/01/2012

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093471671 Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093471671 Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 
  E-Mail Article
  Printer-Friendly
  Translate
 Share Article
  


(MENAFN) Rak Petroleum Public Company said that it finished the merging of its operating subsidiaries in the Middle East and North Africa (MENA) region into DNO International, reported Emirates 24/7.

The firm added that as consideration for the merger, 153.422 million DNO International shares were issued to Rak, raising its shareholding in the Norwegian firm to 42.8 percent from 30 percent.

It also said that Rak would still have offices in Ras Al Khaimah and Dubai, in addition to a small team of legal, commercial, technical and financial professionals, while DNO would expand its offices to include Muscat and Ras Al Khaimah, in addition to its current offices in Oslo, Erbil, Sana'a, Dubai, Tunis and London.

It is worth noting that the deal values Rak's operating subsidiaries at USD250 million and DNO's at USD1.64 billion.
 






  MENA News Headlines
May 23 2013US stocks sink after global rout; S&P loses 1.1% ,AFP
(MENAFN - AFP) US stocks opened sharply lower Thursday after the plunge in the Japanese market sparked a selloff throughout Asia and Europe. In the first 10 minutes of trade the S&P 500 was ...

May 23 2013Majid Al Futtaim takes 100% of UAE Carrefour ,MENAFN
(MENAFN) Majid Al Futtaim (MAF) Holding announced that it purchased the 25-percent stake owned by Carrefour in Majid Al Futtaim Hypermarkets LLC for USD684.1 million, reported Gulf News. MAF ...

May 23 2013QPI to purchase share in Total's Congo operations ,MENAFN
(MENAFN) Qatar Petroleum International (QPI) will buy a stake in Total's Congo operations, reported Arabian Business. This investment's major focus is the Moho North project. Neither of the two ...

May 23 2013Epicor to Host EMEA Insights 2013 Customer Conference Series ,MENAFN Press
(MENAFN Press) Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, today announced that it will be hosting ...

May 23 2013Dubai's leading property agency delivers world-first tool and resources for end users ,MENAFN Press
(MENAFN Press) Better Homes, UAE's largest realtor, has released helpful guides for property hunters and landlords in the Dubai property market. This follows from the property agency's delivery of a ...

May 23 2013Onyx hospitality group creates a buzz with 'plan bee' ,MENAFN Press
(MENAFN Press) The latest CSR programme from ONYX Hospitality Group focuses on the conservation of natural biodiversity in a bid to save the Asian honeybee (Apis cerana) from extinction. The ...

May 23 2013RTS Realtime Systems to Open Data Center in Dubai ,MENAFN Press
(MENAFN Press) RTS Realtime Systems Group (RTS), a leading global trading solutions provider, today announced plans to open its newest data center in Dubai, the first Middle East site in its global ...

May 23 2013Songwon Industrial Group announces positive Q1 2013 financial results ,MENAFN Press
(MENAFN Press) Ulsan, Korea – May 23, 2013 – Songwon Industrial Group (www.songwon.com), is pleased to announce its Q1 financial results for 2013. The detailed Q1 2013 financial results ...

May 23 2013Mediaquest acquires 30% stake in acclaimed wedding website Whiteme.net ,MENAFN Press
(MENAFN Press) In line with the increased Internet penetration in the region and the burgeoning wedding industry, leading Middle East publisher Mediaquest has acquired a 30 percent stake in the ...

May 23 2013New Xerox Multifunction Printers Keep It Simple for Small Business: Add Cloud, Mobile Services; Take Up Less Space ,MENAFN Press
(MENAFN Press) Xerox® today introduced the WorkCentre® 7220/7225 color multifunction printers (MFPs) enabled with the new Xerox ConnectKey™, a software system and a set of solutions to simplify ...

more...


 
Click to Apply



Most popular stories




Google

 
 

Middle East North Africa - Financial Network

 MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
 Arabic MENAFN

 Main News
 News By Industry
 News By Country
 Marketwatch News
UPI News
Comtex News

IPO News
 Islamic Finance News
 Private Equity News

How-To Guides
Technology Section
 Travel Section
Search News

Market Indices
 Quotes & Charts

Global Indices
 Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
 Currencies Updates
 Currency Converter

 USA Stocks
Arab Stocks
 

 Algeria 
Bahrain 
Egypt 
Iraq
 Jordan 
Kuwait 
Lebanon
 Morocco 
Oman 
Palestine
 Qatar 
Saudi Arabia 
Syria
 Tunisia 
UAE 
Yemen

Weather
 Investment Game
 Economic Calendar
Financial Glossary
My MENAFN
 Portfolio Tracker

Voting
Financial Calculators

 RSS Feeds [XML]

Corporate Monitor

 Events

 Real Estate
 Submit Your Property

Arab Research
 Buy a Research

 Press Releases
 Submit your PR

 Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help