Petrovietnam is in talks with banks for a seven-year loan of up to $1.8 billion to back its bid to purchase a stake in Murphy Oil Corp's Malaysian oil and gas assets, Thomson Reuters publication Basis Point reported on Wednesday, citing sources. Arkansas-based Murphy Oil, which has interests in oil and gas fields in Malaysia, Vietnam, Indonesia, Brunei and Australia, is seeking buyers for a 30 percent stake in its Malaysian assets, Reuters previously reported.Petrovietnam's offer is more than the $1.5 billion bid placed by the Indian consortium of Oil & Natural Gas Corp and Oil India Ltd. Mitsubishi Corp is also among bidders for the assets.A limited number of banks are involved in the talks with Petrovietnam for the financing, Basis Point said. The company's CEO could not be reached on Thursday for comment.In early July, the state-owned company had approached banks for the M&A financing and set a mid-July deadline for responses. The company was initially considering a 12-18 month bridge financing, the report said.
Murphy Oil Corporation is a worldwide oil and gas exploration and production company with retail and wholesale gasoline marketing operations in the United States and refining and marketing operations in the United Kingdom. Shares of MUR traded higher by 0.21% or $0.13/share to $60.61. In the past year, the shares have traded as low as $54.67 and as high as $68.43. On average, 1203400 shares of MUR exchange hands on a given day and today's volume is recorded at 830058.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.11% or $0.04/share to $37.65. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 759261 shares of TRI exchange hands on a given day and today's volume is recorded at 489188.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.39% or $0.16/share to $41.30. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 584864 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 724909.
Source
