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Vol 53 No 9

Published 27th April 2012


Stakes and taxes

The government has announced that it will tax mergers and acquisitions in the resource sector. The first is Royal Dutch Shell’s proposed purchase of Britain’s Cove Energy, holder of an 8.5% share of Anadarko’s offshore Area 1. The figure mentioned is £1 billion (US$1.61 bn.) but it is subject to a bidding war with the Petroleum Authority of Thailand (PTT) and India’s Oil and Natural Gas Corporation Limited (ONGC).

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