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NewAge and Genel explore potential merger

Image Credit: Eczellon Capital

NewAge, an Africa-focused oil exploration and development company owned by a consortium of private investors that include Wall Street investment manager Och-Ziff Capital Management, oil trader Vitol and an undisclosed group of sovereign wealth funds is reportedly in merger talks with Genel Energy, a London-listed firm headed up by former BP boss, Tony Hayward. Genel’s oil production is predominantly focused on Kurdish Iraq, but it has a string of assets in Somaliland, Morocco, Côte d’Ivoire and elsewhere in Africa.

Read more at Sky News…

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