The Papua New Guinea court has allowed Oil Search shareholders to vote on its merger with Australia’s Santos, while also winning the backing of an independent advisory firm for the deal.
The scheme meeting will take place on December 7, as per the orders from the National Court of Papua New Guinea.
The PNG government had previously raised concerns about the $8 billion acquisition by Santos, saying it would harm national interests as it could result in a foreign firm holding too much of domestic oil and gas resources.
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