Brooge Energy Ltd Engages Grant Thornton as Independent Advisor to Provide Fairness Opinion on Proposed Go-Private Transaction
28 Octobre 2022 - 10:05PM
Brooge Energy Ltd, (“Brooge Energy” or the “Company”), a Cayman
Islands-based infrastructure provider, which is currently engaged
in clean petroleum products and biofuels and crude oil storage and
related services, today announced that it has engaged Grant
Thornton Financial Advisors LLC, a subsidiary of Grant Thornton
LLP, as an independent financial advisor to provide an opinion to
the special committee of the Board of Directors as to the fairness
from a financial point of view of the consideration to be received
by shareholders unaffiliated with the Company’s majority
shareholder with respect to its majority shareholder’s, BPGIC
Holdings Limited, proposal to acquire all the shares of the Company
it does not currently own and to take the Company private.
Any transaction, if entered into, will be
subject to the receipt of a fairness opinion, approval of the
special committee of the Board of Directors, and approval of the
Company’s shareholders. There can be no assurance that a
transaction will be entered into.
About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure
provider now intending to focus on renewable energy infrastructures
and biofuels, next to clean petroleum products, crude oil storage
and related services. The company conducts its business and
operations through its subsidiaries Brooge Renewable Energy, Brooge
Petroleum and Gas Investment Company FZE (BPGIC), and Brooge
Petroleum and Gas Investment Company Phase 3 FZE. BPGIC, the
Company’s primary operating subsidiary that focuses on midstream
oil storage and other services, is strategically located outside
the Strait of Hormuz at the Port of Fujairah in the Emirate of
Fujairah in the UAE. The Company differentiates itself from
competitors by providing customers with fast order processing
times, excellent customer service and high accuracy blending
services with low product losses. For more information, please
visit at www.broogeenergy.com.
Forward-Looking StatementsThis
press release contains statements that are not historical facts and
constitute “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Such statements reflect management’s current
views based on certain assumptions, and they involve risks and
uncertainties. Actual results, events or performance may differ
materially from the forward-looking statements due to a number of
important factors, and will be dependent upon a variety of factors,
including risks described in public reports filed by Brooge Energy
with the SEC. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Brooge Energy does not undertake any obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Investor Contact KCSA Strategic Communications
Valter Pinto, Managing Director +1 212-896-1254
BROG@kcsa.com
Brooge Energy (NASDAQ:BROG)
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