Shell Eyes Africa in Cove Bid

Royal Dutch Shell said it had agreed to buy Cove Energy, a London-listed company with key operations in East Africa, for £1.12 billion (1.37 billion euros, $1.81 billion).The cash offer worth 220 pence per Cove share is an improvement on Shell's informal bid worth 195 pence per share made in February. Cove will be taken over by the Anglo-Dutch energy group's Shell Bidco subsidiary.

LONDON (Reuters) - Thai group PTT Exploration and Production has trumped Royal Dutch Shell's agreed bid for Mozambique-focused explorer Cove Energy by offering 1.22 billion pounds ($1.9 billion). Cove management said on Wednesday, hours ahead of a deadline for investors to accept Shell's bid, it now backed PTT's 240 pence per share bid, after earlier backing Shell's 220 pence. Cove has an 8.5 percent stake in an Anadarko Petroleum-led block offshore Northern Mozambique, where massive gas finds have been made. Cove shares closed at 224 pence on Tuesday. ($1 = 0. ...

By Robert Maxwell: On Monday, 24th April, Royal Dutch Shell (RDS.A) made a formal bid for Anadarko's (APC) junior partner Cove Energy (CNVGF.PK) in the offshore Mozambique gas find.

Royal Dutch Shell Plc has made an agreed 992.4 million pounds bid for Mozambique-focused Cove Energy, offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa. Shell ...

Royal Dutch Shell made a $1.6 billion bid for Cove Energy to get a stake in the Rovuma field, an offshore location off the coast of Mozambique that promises to provide 3 trillion cubic feet of liquefied natural gas.

LONDON (Reuters) - Royal Dutch Shell Plc has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy , offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

Reuters - Royal Dutch Shell Plc (RDSa.L) has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy , offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

LONDON (Reuters) - Royal Dutch Shell Plc has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy, offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.