Galp Energia will launch a takeover to Gulf Coast (English News, 1 ponto , 13:49 | Quinta-feira, 15 de Mai de 2008) Lisbon - A source from Galp Energia said today that Galp Energia will launch a takeover to Gulf Coast Oil & Gas Inc . Galp Energia, will notifie next monday the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition of Gulf Coast Oil & Gas Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid. Galp Energia will launch a takeover bid for Gulf Coast Oil & Gas Inc with the payment of $0.05 USD for each of the that responded to the tender offer, this initial offer could reach the limit of price of $0.075 USD for each share of the company.
About Galp : Galp Energia SGPS, S.A.. The Group's principal activities are the exploration and production of hydrocarbons, the refining and marketing of refined petroleum products and LPG, the supply and distribution of natural gas and the supply of electric power. The E&P activity is present in Angola and Brazil, where the Group owns 6 and 54 blocks. The refining and marketing segment manages two refineries in Portugal and the retail network. At 31/12/2006 the Group had 1,060 service stations, of which 837 in Portugal and 223 in Spain.
Tiago Villas-Boas Director de Relações com Investidores e Comunicação Externa
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