Kurdistan-focused Oil Firms Gulf Keystone, ShaMaran Agree $601 Million Merger
UK-listed Gulf Keystone Petroleum said on Tuesday it will merge with Norway's ShaMaran Petroleum in a $601 million all-share deal, creating one of the largest oil producers in Iraq's Kurdistan region. Under the agreement, ShaMaran shareholders will receive 0.07533958 Gulf Keystone shares for each ShaMaran share held. Following completion of deal, shareholders of each company will own about 50% of the combined company.
