GAIL (India) Limited response to press speculation regarding Cove Energy plc
- Contemplating joint participation in the formal sale process being run by Cove Energy Plc.
In respect of the recent press speculation regarding Cove Energy Plc., GAIL confirms that GAIL in association with its partner ("Consortium") is contemplating joint participation in the formal sale process being run by Cove Energy Plc. However Gail clarifies that at this stage, no decision has been made by the Consortium whether to make an offer for Cove or the price at which any such offer may be made. Therefore, there can be no certainty that the Consortium will make an offer for Cove, or as to the terms of any offer. However, if an offer for Cove were to be made by the Consortium, it would be made in Cash.
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