Ghana May Block $4B ExxonMobil, Kosmos Deal

Law360, New York (February 9, 2010, 6:09 PM EST) -- A cloud of confusion has enveloped Exxon Mobil Corp.'s proposed $4 billion purchase of Kosmos Energy LLC's stake in an oil field off the coast of Ghana, with contradictory reports coming in over whether Ghana's government will block the deal.

On Tuesday, the Wall Street Journal reported that Ghanaian Energy Minister Joe Oteng-Adjei had sent a letter to Exxon Mobil informing it that the deal with Kosmos wouldn't receive government approval.

The government is “unable to support an Exxon Mobil acquisition of Kosmos' Ghana assets,” the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.