{"id":624918,"date":"2018-09-23T04:26:51","date_gmt":"2018-09-23T04:26:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/"},"modified":"2018-09-23T04:26:51","modified_gmt":"2018-09-23T04:26:51","slug":"sdx-in-talks-with-bp-to-acquire-assets-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/","title":{"rendered":"SDX in talks with BP to acquire assets in Egypt"},"content":{"rendered":"

<\/a> **#6 M&A WATCH- SDX in talks with BP to acquire assets in Egypt: <\/strong>SDX Energy announced on Thursday that it was in open talks with BP to acquire \u201ca significant package of [its] assets in Egypt.\u201d It\u2019s not immediately clear which assets SDX hopes to acquire, but the company said in a press release (pdf)<\/a><\/u> that the transaction would take the form of a reverse takeover<\/a><\/u>, allowing SDX entry to the London Stock Exchange\u2019s main market. SDX is currently listed on junior London market AIM, but trading on its shares has been suspended until negotiations wrap-up.Trading on the company\u2019s shares on the Canadian TSX Venture Exchange has also been suspended until further notice.<\/p>\n

Background: <\/strong>We had reported in March<\/a><\/u> that BP was already meeting with prospective buyers for its stake in its 50-year-old JV with the EGPC, the Gulf of Suez Oil Company (GUPCO), as part of a plan to sell USD 2-3 bn\u2019s worth of maturing assets this year in an effort to shore up finances. Sources had then valued the GUPCO transaction at EGP 500 mn but others had said that BP was hoping to raise as much as USD 1 bn from the sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

**#6 M&A WATCH- SDX in talks with BP to acquire assets in Egypt: SDX Energy announced on Thursday that it was in open talks with BP to acquire \u201ca significant package of [its] assets in Egypt.\u201d It\u2019s not immediately clear which assets SDX hopes to acquire, but the company said in a press release (pdf) […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624918","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f7216b34-340c-44cd-9e96-62c32c3d6060","order":"0","is_powered_by":true,"section_story_id":"84cf5c2e-79a3-4f25-a38c-88b0e1f4340f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624906],"teaser":"","voice_url":""},"yoast_head":"\nSDX in talks with BP to acquire assets in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SDX in talks with BP to acquire assets in Egypt\" \/>\n<meta property=\"og:description\" content=\"**#6 M&A WATCH- SDX in talks with BP to acquire assets in Egypt: SDX Energy announced on Thursday that it was in open talks with BP to acquire \u201ca significant package of [its] assets in Egypt.\u201d It\u2019s not immediately clear which assets SDX hopes to acquire, but the company said in a press release (pdf) […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-23T04:26:51+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"SDX in talks with BP to acquire assets in Egypt\",\"datePublished\":\"2018-09-23T04:26:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\"},\"wordCount\":210,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/sdx-in-talks-with-bp-to-acquire-assets-in-egypt\/\",\"name\":\"SDX in talks with BP to acquire assets in Egypt - 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SDX Energy has \u201cterminated\u201d talks to acquire BP\u2019s Egypt assets after failing to reach an agreement, the company said in a statement on Thursday (pdf). SDX gave no color on why the talks broke down. 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