Sept 20 (Reuters) - North African-focused oil and gascompany SDX Energy on Thursday confirmed that it was indiscussions with BP Plc to buy a package of assets inEgypt.
London-listed SDX said the acquisition would constitute areverse takeover. (https://reut.rs/2OFTxs2)
SDX said its shares have been suspended from trading onLondon's junior market, AIM, with immediate effect and willremain suspended until an admission document has been publishedor the company confirms that a deal is not proceeding.
A spokeswoman for BP declined to comment on the talks withSDX.
Reuters reported earlier in the year, citing bankingsources, that BP is seeking buyers for its stake in a50-year-old oil and gas business in Egypt, then estimated to beworth around $500 million.
It was not immediately clear which assets SDX was in talkswith BP over.
Earlier in the day, oil and gas explorer and producer SOCOInternational said it signed a deal to buyprivately-owned Merlon Petroleum El Fayum Company for about $215million. Merlon holds the operated working interest onshore ElFayum in Egypt.(Reporting by Muvija M in Bengaluru and Shadia Nasralla inLondon; Editing by Emelia Sithole-Matarise and ElaineHardcastle)
BP (BP.)
