Bangkok: Majority state-owned Thai refiner Bangchak Petroleum Plc (BCP) will pay A$22.2m for close to 20% stake in Australian oil and gas explorer Nido Petroleum Ltd. Wholly-owned Singaporean subsidiary BCP Energy International has entered into a share-sale agreement with Petroleum International Investment Corporation, incorporated in the British Virgin Islands, for 402.95m fully paid ordinary shares of Nido. The Australian company explores and produces petroleum in Australia as well as Southeast Asia.
Listed on the Australian Securities Exchange in Sydney, Nido has petroleum concessions in the Philippines and Indonesia. [01/08/14]
