Australian energy company Invictus is hammering out a deal with Qatari outfit Al Mansour Holdings that could hand the Gulf investors half the company. The talks come after AMH dropped a 500 million dollar commitment back in August to get the Cabora Bassa oil and gas project moving in Zimbabwe's Muzarabani district. The two sides have already set up a joint venture called Al Mansour Oil & Gas to grab and develop energy assets around Africa.
The deal structure needs clearance from regulators in both Australia and Qatar, with shareholders getting a vote at a special meeting if everything gets finalized. Invictus pushed back the settlement of a share placement until late January to keep negotiations rolling. That placement would give AMH about 20 percent of the company through nearly 400 million new shares at roughly 10 cents Australian each.
The deal structure needs clearance from regulators in both Australia and Qatar, with shareholders getting a vote at a special meeting if everything gets finalized. Invictus pushed back the settlement of a share placement until late January to keep negotiations rolling. That placement would give AMH about 20 percent of the company through nearly 400 million new shares at roughly 10 cents Australian each.
