Sintana Energy Receives Board Backing for Challenger Acquisition Ahead of Shareholder Vote

Reuters10-22

Sintana Energy Receives Board Backing for Challenger Acquisition Ahead of Shareholder Vote

Sintana Energy Inc. has provided an update regarding its plan to acquire all of the issued and to be issued ordinary share capital of Challenger Energy Group PLC through an all-share transaction. A Special Committee of Sintana's Board of Directors, supported by a fairness opinion from Pareto Securities AS, has recommended the acquisition, which received unanimous support from voting directors, with one abstention due to dual roles. The completion of the deal remains subject to regulatory, stock exchange, and Challenger shareholder approvals, and the companies expect to close the transaction by the end of the fourth quarter of 2025. Challenger's board has initiated the process for a shareholder meeting to consider and approve the proposed scheme. Irrevocable undertakings to support the acquisition have been received from certain Challenger shareholders, representing approximately 34.2% of Challenger's ordinary share capital as of October 8, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sintana Energy Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9549652-en) on October 21, 2025, and is solely responsible for the information contained therein.

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