Geo-Jade Petroleum acquires Bankers Petroleum for $575M
Bankers Petroleum Ltd. completed its plan of arrangement with affiliates of Geo-Jade Petroleum Corporation. As a result of the transaction, Geo-Jade acquired all the issued and outstanding common shares of Bankers through its affiliates for approximately $575M. The transaction was effected by way of a plan of arrangement under the Business Corporations Act. Bankers Petroleum will maintain corporate and technical headquarters in Calgary with operational offices in Albania, Hungary and Romania. Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves in Albania and Eastern Europe. Geo-Jade Petroleum is a fast-growing oil and gas exploration and development enterprise based in Beijing.
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