After lengthy negotiations, an agreement was reached between the Australian energy company Arrow Energy Ltd and two energy industry leaders, the Dutch oil and gas firm Royal Dutch Shell and China State Oil Company petrochina.
The deal will be valued at $3.2 billion (AU$3.5 billion) or $4.7 per share. The two oil giants' initial $4.45/share venture bid was rejected by representatives Arrow Energy, after which the amount of the transaction was revised.
Simultaneously with the sale, the Australian company will be separated, its foreign assets and part of the property in Australia will be separated into a separate, specially created enterprise Dart Energy Ltd.. Under the terms of the deal, shareholders will receive one share Dart Energy in addition to each share Arrow Energy. It is assumed that the financial and technical support of industry leaders will help the Australian company to reach a new level of development.