March 11 (Reuters) - Oil producer Capricorn Energy said on Wednesday it has received multiple non-binding takeover proposals from Alamadiyaf al-Masiyyah, a Cafani Group-affiliated investment vehicle,
Capricorn Energy Receives Multiple Takeover Bids from Cafani Group Unit
Capricorn Energy Confirms Takeover Proposals from Alamadiyaf al-Masiyyah
Details of the Takeover Proposals
March 11 (Reuters) - Oil producer Capricorn Energy said on Wednesday it has received multiple non-binding takeover proposals from Alamadiyaf al-Masiyyah, a Cafani Group-affiliated investment vehicle, for a possible all-cash deal.
Capricorn did not disclose the proposed terms, nor immediately respond to Reuters' queries for additional details.
Background on Cafani Group
The Cafani Group is a privately owned Saudi investment company headquartered in Jeddah.
Current Status of Negotiations
In its statement, the UK-based firm said it was seeking clarity on the Saudi-based company's funding arrangements and that talks were still ongoing.
Board Evaluation and Due Diligence
"Board has evaluated the possible offer with its financial and legal advisers and has provided due diligence access to Alamadiyaf al-Masiyyah," Capricorn said.
Regulatory Requirements and Timeline
According to the UK's takeover rules, the Cafani Group-owned company must either announce a firm intention to make an offer for Capricorn by April 8 or walk away.
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Jonathan Ananda)
