The proposed all-stock merger between Bahamas Petroleum Company and Columbus Energy Resources was sanctioned by the court on Wednesday, paving way for the merger execution.
Bahamas Petroleum Company, an oil firm with exploration assets in the Bahamas, and as of recently offshore Uruguay, and Trinidad-focused oil and gas production Columbus Energy Resources first announced intention to merge in June, by way of a share for share exchange offer to be made by BPC for the entire issued and to be issued ordinary share capital of Columbus.
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