Gulfsands Petroleum shareholder Waterford said to be eyeing buyout at GBP 1.20-1.50 per share
Gulfsands Petroleum’s approximately 27% shareholder Waterford Finance & Investment is rumoured to be considering buying the remainder of the AIM-listed exploration group, The Times reported. The market report noted “vague” chatter that a bid of GBP 1.20-1.50 (EUR 1.48-1.85) per share may be on the cards from Waterford, the vehicle of Russian investor Michael Kroupeev.
London-based Gulfsands has a GBP 77m market cap; the company’s shares ended trading at 65p yesterday, 2 June.
Source The Times