(Alliance News) - Serica Energy PLC on Tuesday said that the conditions for the acquisition of Tailwind Energy Investments Ltd from Tailwind Energy Holdings LLP have been satisfied.
Serica is a London-based oil & gas company focused on the UK North Sea.
In December, the company said it would buy Tailwind Energy Investments for GBP58.7 million plus issuance of Serica shares.
In connection with the acquisition, up to 111.0 million new shares in Serica will be allotted and issued.
Completion will occur immediately following admission of the consideration shares; this is expected to take place on or around Monday.
Shares in Serica were up 2.7% to 213.00 pence each in London on Tuesday morning.
By Sophie Rose, Alliance News reporter
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Serica Energy (SQZ)