DNO ex-Chairman Tries to Block Merger

DNO International has announced that told investors that Petrolia Invest AS and Erik J. Frydenbø have filed a request for an injunction with the Oslo District Court seeking to block the completion of the merger with RAK Petroleum PCL’s MENA operating subsidiaries.

Petrolia Invest AS is a subsidiary of Petrolia ASA, a company controlled by DNO’s former chairman and chief executive Berge Gerdt Larsen.

DNO said it sees the request for injunction as another frivolous attack on, and attempt to interfere with, the merger by the former chairman, Berge Gerdt Larsen, his associates and his advisors.

It falls in line with, and is seen as a continuation of efforts by the same parties to interfere with the merger prior to the extraordinary general meeting by means of a campaign of disinformation and factual distortion“, said the company in a statement this morning.

DNO is of the clear view that the request is completely without merit and will vigorously defend against it.

The deal was backed by 76.5 percent of its shareholders in a general meeting in November.

Genel Energy has expressed interest in acquiring DNO.

 

Comments are closed.