Africa Oil Corp (AOIFF)

[douginil]

The Lundin family is considering buying Africa Oil

With thanks to Tleoil on stockhouse

8/14/2018


Hmmm Depending on the price I would not be happy with this.

Translated from swedish:


2018-08-14 17:40 (Appendix: last paragraph) STOCKHOLM (Direct) The Lundin family is considering buying Africa Oil from the stock exchange through an online store where the oil company IPC is the buyer. The problem is that Africa Oils biggest owner, British Helios, is doubtful about the layout. It writes Dagens Industri on Tuesday night with reference to anonymous sources. According to Di's information lender, Lukas Lundin has tired of Africa Oil's weak stock market development and is ready to do something radically with the company. "The deal is very logical. The companies fit together because Africa Oil has no cash flow but large reserves. IPC has strong growth cash flow from its existing production but would need larger long-term reserves," says one of the newspaper's sources. The Lundin family, however, owns only about 8 percent of Africa Oil and other owners may be reluctant to step out of the company at low price levels. A major owner is Helios Investment Partners, which controls over 12 percent of the shares in the company and has invested equivalent to SEK 900 million. At present, the stock has shrunk close to 50 percent since the investment was completed, Dagens Industri writes.