Chrysaor has Full Regulatory Approval for Premier Merger
All the necessary regulatory conditions relating to the Chrysaor-Premier merger have now been satisfied and all of the requisite anti-trust approvals have been received, the UK producer said February 23.
Private-equity backed Chrysaor plans to complete the deal in about a month, giving it a portfolio of assets in the UK, Mexico and Asia.
"Following receipt of notice from the Oil and Gas Authority, the regulatory condition to the transaction regarding Premier’s and Chrysaor’s licence interests in the UK has been satisfied," it said. It has also had approval from the Mexican Economic Competition Commission.
Assuming a Scottish court sanctions the restructuring plans, Premier expects the deal to be completed on March 31, with Premier’s shares to be readmitted to trading on April 1 as Harbour Energy. The vast majority of Premier's top creditors voted in favour of the transaction February 22, with the most taking shares in Harbour Energy in preference to cash.