We're putting some more of our assets into the new Saffron (Coro Energy) - so will now only own 51% of them, not 100%. And our ownership of the existing Saffron assets will drop from 53% to 51%. But there are also assets from Sound Energy going into Coro, so we'll be acquiring 51% of those.
Hard to tell, but the fact that we are keeping a controlling stake in Coro suggests the large management shareholders in PVE think the transaction is good for them (and thus us). The share price movement suggests so too.
News: PVE PO Valley Energy in proposed re-organisation of Italian oil & gas assets, page-3
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