KNOC gets $750 million loan to fund Dana deal

摘要

Seoul-Korea National Oil Corporation has received a $750 million loan from state-owned Export-Import Bank of Korea to help finance its recent takeover of UK’s Dana Petroleum, the lender said in a statement October 6. The loan will help KNOC cover part of the $2.95 billion needed to pay for the British oil developer, the bank said. Late last month, KNOC secured more than 64% of UK-listed Dana in a hostile takeover bid. Actual transfer of the shares is expected to take place by October 7 (ON 9/23).