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Nigeria’s Taleveras, Aiteo bid $2.85 bln for Shell block – sources

Screen Shot 2013-12-22 at 19.09.52Extracts from a Reuters article by Tim Cocks and Ron Bousso published Friday 28 March 2014

ABUJA/LONDON, March 28 (Reuters) – Nigerian firms Taleveras and Aiteo have made the highest bid of $2.85 billion for the biggest of four Shell assets up for sale, but the oil major is holding out while it tries to persuade them to team up with Seplat, an existing operator.

Several oil industry sources told Reuters that, although there is little doubt the duo can raise cash for the block, Shell is concerned about the reputational risk of selling it to two exporters of crude and importers of gasoline that have no previous experience in running producing oil assets.

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