Serica Energy confirms talks for possible reverse takeover by EnQuest

(Alliance News) - Serica Energy PLC on Friday confirmed it was in talks for a possible merger ...

Alliance News 7 March, 2025 | 9:53AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Serica Energy PLC on Friday confirmed it was in talks for a possible merger with EnQuest PLC, with a reverse takeover envisaged.

Serica is a North Sea-focused oil and gas producer while EnQuest is an oil and gas company with operations in the UK and Malaysia.

Serica said an offer by EnQuest for Serica is planned via a reverse takeover.

Serica shares were 6.5% higher at 128.32 pence each on Friday morning in London, giving it a market capitalisation of GBP506.2 million, while EnQuest shares rose 9.2% to 11.70p each, for a market capitalisation of GBP219.0 million.

EnQuest has until April 4 to announce its intention to make an offer, or to announce it does not intend an offer for Serica.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Serica Energy PLC 263.00 GBX -0.30 -
EnQuest PLC 17.88 GBX -0.67 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2025 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures