Brazil: Maha Energy signs definitive agreements with 3R Petroleum regarding the roll-up of its 15% holdings in 3R Offshore
Maha Energy has signed definitive agreements with 3R Petroleum to roll up its 15% holdings in 3R Petroleum Offshore through merge of its wholly owned subsidiary Maha Energy (Holding) Brasil Ltda. into 3R Petroleum. In exchange, Maha will receive new ordinary shares issued by 3R Petroleum, equivalent to 2.17% of the total voting and share capital of the entity resulting from the combination of 3R Petroleum and Enauta.
Source: energy-pedia.com