Scirocco Energy plc said it now expected to sell during the first quarter of 2023 its 25% share of the Ruvuma gas asset in Tanzania.
CLEARANCE
The company agreed to sell its asset to ARA Petroleum Tanzania (APT), with a view to completing the transaction during December 2022.
Scirocco today said that the Tanzanian fair competition commission had now granted unconditional approval for the transaction and issued the company with the merger clearance certificate.
“The company continues to engage with stakeholders across the Tanzanian government agencies whose approval is required as part of the completion process,” said Scirocco in a statement.
“The board now considers it more likely that completion will be achieved in Q1 2023 rather than December 2022 as previously guided, due to likely disruption around the upcoming festive period.”