Beach Energy Limited announced that its offer for Adelaide Energy Limited closed today. Beach has increased its interest to 96.99%, and will commence procedures for the compulsory acquisition of all remaining Adelaide Energy shares.
Adelaide Energy shareholders who have not sold their shares into the offer will receive a compulsory acquisition notice from Beach.
The notice will detail how the compulsory acquisition will proceed.
[mappress]
LNG World News Staff, December 22, 2011