HitecVision targets Rocksource
- Business & Finance
HitecVision reported that the voluntary offer made by its portfolio company EPSI for all shares in Norwegian oil company Rocksource ASA has ended on May 26, 2015.
EPSI launched its takeover offer in December 2014 valuing Rocksource at NOK 590 million. At the end of the offer, EPSI has received acceptances to purchase approximately 7.3% of the shares in the company.
With its prior shareholding, EPSI now owns 92.5% of the shares in Rocksource ASA.
EPSI has previously announced its intention, should it acquire more than 90% of the shares of Rocksource, to carry out a compulsory acquisition of the remaining shares in accordance with applicable laws, and to apply for delisting of the shares from the Oslo Stock Exchange.