Friday, October 21, 2011

Pinchuk has changed his mind to buy Regal Petroleum

Ukrainian oil and gas holding company "Geo-Alliance and Heamoor Limited (Cyprus) Ukrainian businessman Viktor Pinchuk abandoned the intention to make an offer to acquire UK oil and gas company with assets in Ukraine, Regal Petroleum plc. As noted in the message exchange on Thursday, Pinchuk Company continues to believe its proposal more favorable to shareholders Regal on its reverse takeover "Geo-Alliance, based on fundamental analysis of the two companies than the competing offer Ukrainian Smart-Holding," about money buyout . Companies Pinchuk ready again to enter into negotiations with Regal on a possible reverse takeover of the company if the offer "Smart-Holding to buy 70% of the shares at 38 pence per share (equivalent to an evaluation of all the company GBP121, 8 million) will expire . Recall that Mr. Pinchuk is 3 ranked the 200 richest people of Ukraine.

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