Three more firms shortlisted to bid for Newfield assets


Now, since the head of PETROFAC is in charge of Vestigo, any ideas who’s the winner among the contenders?

Dateline 2013-08-26, The Star:

SapuraKencana Petroleum Bhd, Talisman and Petrofac have been shortlisted for the second round of Newfield Exploration Co’s oil and gas assets in Malaysia and China, said sources close to the deal.

Last week, Hibiscus Petroleum Bhd confirmed that it had been shortlisted for this two-round bidding process, where the second-round bids are expected to be submitted by Sept 26. The source added that the results for the winning bidder should be known by year-end. Goldman Sachs Group Inc is the investment banker mandated to manage this bidding process. It would appear that only a handful of companies out of the 65 companies that had initially expressed interest for Newfield’s assets worth some US$1.7bil have been selected for the second round.

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