A Shell logo is seen at a petrol station in London April 28, 2010. Credit: Reuters/Toby Melville
LONDON | Tue Apr 24, 2012 2:45am EDT
(Reuters) – Royal Dutch Shell Plc (RDSa.L) said it agreed to buy Mozambique-focused explorer Cove Energy (COVE.L) in a 1.12 billion pound ($1.8 billion) recommended cash deal, after the major raised its previous offer to match a rival bid from Thailand’s PTT PTTE.BK.
Shell said it would pay 220 pence for each Cove share and that the deal was conditional upon approval from the government of Mozambique amongst other things.
Cove’s main asset is an 8.5 percent stake in the Rovuma Offshore Area 1, in Mozambique, where huge gas discoveries have been made.
Thailand’s PTT made a 1.12 billion bid for Cove in February, trumping Shell’s previous offer of 992.4 million pounds, and prompting hopes of a bid battle.
($1 = 0.6213 British pounds)
(Reporting by Sarah Young; editing by Rhys Jones)
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.


EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.



















