04-14-2013, 08:36 PM
To me it would be logical to create a sovereign wealth fund which invests in other companies. In Norway you see that the sovereign wealth funds owns approx 60% of Statoil. PNG is entitled to 22.5% of the main asset of Interoil. So, I could imagine that the new fund gets 22.5% of the shares of Interoil in exchange for the assets. Interoil is 100% PNG oriented with a strong position in the retail business. Interoil is very well equiped to improve the infrastructure. So, Interoil is of strategic importance for PNG.
Interoil can use the shelf offering for the extra shares next to a share buyback financed by the upfront cash payment of the SD-partner.