Cepsa could offer EUR 700m for Salamander Energy, may seek financial partner
The offer that Compañia Española de Petróleos (Cepsa) is mulling for Salamander Energy [LON SMDR] amounts to EUR 700m including debt, Expansion reported citing market sources. The amount includes EUR 500m (GBP 350m) for the company and EUR 200m debt.
Cepsa could make the offer jointly with a financial partner, the report said. No agreement has been reached yet, the report's sources said.
On Wednesday this news service identified Cepsa as the bidder for Salamander Energy, following reports last week that Salamander had received a cash offer for the whole company at around GBP 144 per share.
Salamander fits the strategy of Abu Dhabi’s International Petroleum Investment Company to use Cepsa as a vehicle to invest outside the Middle East, Expansion said.
Sources from Cepsa and Salamander Energy declined to comment, the report said.
Source Expansion