On 6 July 2020 RockRose Energy announced that it has agreed with Vario Energy the terms for the acquisition of the ordinary share capital of RockRose Energy. The agreement with Vario Energy is for a recommended all-cash offer at a value of GBP 247.58 million. The acquisition could be via a court-sanctioned scheme or by a takeover offer. RockRose believe the deal is fair and advise shareholders to vote in favour of the scheme or takeover offer. The deal is subject to the approval of shareholders but it has already received the irrevocable approval to vote in favour of the scheme from the company's Directors, Managers and some shareholders- in total representing approximately 35% of the RockRose shares.   RockRose is an independent oil and gas company listed on the London Stock Exchange. Since RockRose was founded in 2015 it has built up its portfolio through corporate acquisitions. RockRose holds interest in onshore and offshore, operated and non-operated assets in the UK and the Netherlands. The company entered the Netherlands in 2018 when it acquired non-operated interest in assets from Dyas. In 2019 RockRose acquired operated interest in assets from the acquisition of Marathon Oil's UK North Sea assets. In the announcement on 6 July 2020 it was stated that RockRose directors believe that, given the current share price of the company, raising further equity capital would dilute the value for shareholders.  Vario Energy is a wholly owned subsidiary of Vario Investment Limited. The company has global commodities trading activities and interests in the energy sector support services and upstream development. The acquisition will represent Vario's expansion towards the creation of an integrated upstream and trading company.
United Kingdom, On 6 July 2020 RockRose Energy announced that it has agreed with Vario Energy the terms for the acquisition of the ordinary share capital of RockRose Energy. The agreement with Vario Energy is for a recommended all-cash offer at a value of GBP 247.58 million. The acquisition could be via a court-sanctioned scheme or by a takeover offer. RockRose believe the deal is fair and advise shareholders to vote in favour of the scheme or takeover offer. The deal is subject to the approval of shareholders but it has already received the irrevocable approval to vote in favour of the scheme from the company's Directors, Managers and some shareholders- in total representing approximately 35% of the RockRose shares.