UK: Petrol Express Parent in Takeover Talks
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Tuesday, 22 April 2008 |
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Global Natural Energy, in which Petorl Express is a subsidiary, has confirmed
it is in talks that could lead to a bid for the group which owns and
operates petrol retailing sites.
Bosses said they will continue to evaluate all possible options for delivering value to shareholders.
It said a further announcement will be made in due course, as
appropriate. it was in talks that might lead to an offer for the petrol
station operator, lifting its shares.
At 1:30 p.m., GNE shares were indicated up a third in value at 130 pence, valuing the company at 18.3 million pound. GNE Group, an owner, operator and developer of petrol retailing
sites in the UK, has confirmed it is in talks that could lead to a bid
for the group.
The shares blasted to a 12-month high on the news, though they continue
to languish well below the 600p+ level attained in 2000, the year after
the company floated on AIM.
Bosses said they will continue to evaluate all possible options for delivering value to shareholders.
PetrolWorld 180408
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