The completion was concluded with an initial payment of US$55 million. The balance of the payment will be paid within 30 days of the completion of the acquisition.
Rex International Holdings’ 91.65%-owned subsidiary, Lime Petroleum, has completed the acquisition of a 10% stake in Repsol-operated Yme Field on the Norwegian North Sea on Dec 23.
The stake was sold at a post-tax consideration of US$68.1 million ($91.9 million).
