Australia has given foreign-investment approval for Royal Dutch Shell and PetroChina to buy coal-seam gas firm Arrow Energy Ltd for A$3.45bn, according to reports. Shell and PetroChina are offering A$4.70 a share for most of Arrow's domestic coal seam gas assets. Arrow shareholders are also set to receive one share in a new Australian-listed company, Dart Energy, for each share in Arrow, the report stated. Dart will hold Arrow's coal seam gas assets overseas and its gas fields in New South Wales, the report added.
HTML clipboardMergers &Acquisition Round Up - April 19 to April 24, 2010