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It's possible that Seplat wants to carry out rigorous due diligence on Afren, which would explain the delay but it's more likely that the two groups are fighting over an appropriate purchase price. After all, Seplat will have to take on Afren's liabilities if it acquires the company, including Afren's $1.2bn debt pile. This means Seplat will have to seek approval from Afren's bondholders.
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For the DTM chaps.
DTM Early Birds is a discussion created by BuyBAO on 30 Jun 2014.
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