GAIL (India) Limited response to press speculation regarding Cove Energy plc

Wednesday, February 29, 2012
  • 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.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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