- Genel to Acquire Remaining 49% in Miran BlockHeadlines, Others, Global Deals
Genel Energy announced that it has received an Exchange Repayment Notice from Heritage Oil Plc for the transfer of 49% interest in the Miran Block, Kurdistan.
The transfer will take care of the repayment of a $294 million loan Heritage had received from Genel in Aug-2012.
The exchange repayment is subject to approval by Heritage's shareholders and the Kurdish authorities.
Post-transaction, Genel will become the sole operator and 100% owner of the Miran block.November 12, 2012
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