OG Oil & Gas (Singapore) Pte Ltd said on Friday it had acceptances for its partial takeover offer of NZ Oil & Gas Ltd for 43.5% of the fully paid shares and 58.8% of the partly paid shares, which must be fully paid on acquisition.
Including shares OG already holds and full payment of the partly paids, OG said acceptances represented 49.36% of NZOG.
OG Oil & Gas is a subsidiary of an international conglomerate headed by Eyal Ofer, who has interests globally in shipping, the cruise sector, real estate, hospitality, banking & financial investments.
Mr Ofer chairs the Ofer Global Group, a private portfolio of international businesses, and he also chairs the world’s second largest cruise ship company, Royal Caribbean Cruises Ltd, whose fleet includes Ovation of the Seas, one of the largest cruise ships to visit New Zealand.
Among Mr Ofer’s other interests, he has recently financed 2 large conversions & a new office development in New York through Global Holdings.
OG made a partial offer of 74c/share, lifting its stake from 4.3% to a range of 50-70% and trumping the partial & conditional 72c/share offer from Singaporean company Zeta Energy Pte Ltd for 42%. OG’s offer has been extended a final time, to Monday 8 January.
13 September 2017: New NZ Oil & Gas suitor noted for global shipping, cruise & property interests
Attribution: Company release.