Irish-backed Niche Group to buy stake in Turkish firm

THE Irish-backed investment Niche Group has reached initial agreement to buy a 5% stake in Arar Petrol ve Gaz — one of the leading exploration companies in Turkey.

Irish-backed Niche Group to buy stake in Turkish firm
Fri, 22 Apr, 2011 - 01:00
Geoff Percival

The London-headquartered, exploration-focused Niche plans to pay for its equity stake in Arar out of the proceeds from a planned share placing.

The placing of 185.5 million shares on the Alternative Investment Market (AIM) in London should raise £13 million (€14.8m) for the company.

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CourtsPlace: TurkeyPlace: LondonPlace: LimerickPlace: NichePlace: Singleton Oil FieldPlace: Singleton fieldPerson: John McKeonPerson: Roman AbramovichPerson: ArkadiyPerson: McKeonOrganisation: Niche GroupOrganisation: Arar Petrol ve GazOrganisation: NicheOrganisation: ArarOrganisation: Alternative Investment MarketOrganisation: AIMOrganisation: Oman ResourcesOrganisation: Circle OilOrganisation: OmanOrganisation: Chelsea FCOrganisation: Crosby Asset ManagementOrganisation: Providence Resources
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