RINA has signed a definitive agreement with Phoenix Equity Partners to acquire the latter’s subsidiary Edif Group Management for a consideration of £118.5m ($171.75).

RINA will fund the acquisition through equity capital contributions from VEI Capital and NB Renaissance Partners, as well as the funding provided by BNL – BNP Paribas Italy, Unicredit Group, and Banca IMI.

"Oilmax has also made an open offer to purchase an additional 26% stake in Asian Oilfield for Rs32.4 ($0.48) a share."

Expected to close this year, the acquisition will increase RINA’s geological presence, primarily in the UK, US and Germany.

Oilmax Energy and Samara Capital Partners Fund have completed an acquisition deal, based on which the former has bought a 56.32% stake (12,572,600 shares) of the latter’s Asian Oilfield Services for Rs300m ($4.44m).

Oilmax has also made an open offer to purchase an additional 26% stake in Asian Oilfield for Rs32.4 ($0.48) a share.

The latter provides services in 2D and 3D seismic data acquisition, basic seismic data processing, topographic survey, continuous core drilling, CBM exploration, wire-line logging and directional core drilling to target shallow horizons.

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