Petronas is expected to offer GBP340 million for the remaining percentage of Star Energy’s shares. According to Reuters, Petronas had earlier indicated that it picked up a 10% stake in Star Energy at GBP3.65 per share. With this, the Malaysian firm pushed its stake in Star Energy to 39%. Petronas had paid a 30% premium for the stake.
Star Energy’s share price increased sharply after the takeover announcement was made, Reuters said.
