Sequa Petroleum N.V. – Transaction Update
Following discussions, Wintershall and Tellus, a 100% Sequa Petroleum N.V. subsidiary, have agreed not to proceed with the Wintershall-Tellus transaction, announced on 18 June, 2015, in the current market environment.
Tellus is evaluating the Ivar Aasen transaction with OMV in the light of the decision not to proceed with the Wintershall-Tellus transaction.
Tellus is progressing with the preparations for financing the Gina Krog transaction with Total, with the transaction planned to close early in 2016.
Contacts:
Jacob Broekhuijsen – CEO
Carol Frost – Director HR & Communication
+44(0)203-728-4450 or info@sequa-petroleum.com