Hey the Oil and Natural Gas Corp of India bought UK-listed Imperial Energy

The worth for £1.4bn ($2.6bn) it was its first acquisition of a foreign exploration and production company with significant assets.

The Imperial energy company was acquired by ONGC for $2.1 billion in January 2009


Why ONGC Acquired Imperial Energy?

Because of decrement in the crude oil prices the ONGC wanted to come out of the deal but it was late as it had received approval from the Russian regulators.

Beneath the UK takeover committee once all the approval was given it was difficult for the acquirer to get out of the deal

The £12.50-a-share cash offer represents a 62 per cent premium to Imperial’s share price the day before the approach was first announced.

Imperial was worth just £2m when it listed on Aim in 2004

Imperial Energy has its oil and gas assets in eastern Russia and north Kazakhstan

Imperial has also been courted by Sinopec, China’s biggest state-owned oil company..


Imperial is currently operating through four subsidiaries:

Allianceneftegaz

Sevkazgra

Sibinterneft

Nord Imperia