Today the Norwegian oil company DNO International ASA (DNO) acquired United Arab Emirates based RAK petroleums MENA operating subsidiaries. MENA stands for the Middle east and North Afica according to the World Bank definition. DNO International and RAK Petroleum, both of which have operations in Kurdistan, have both anounced the merger today on their respective websites through press releases. A total of 153,422,343 DNO International shares were issued to RAK Petroleum as consideration for the merger. The DNO shares listed on the Olso Stock Exchange under the ticker(DNO), are valued at NOK 8.64 as of this post. The Norwegian Krone has a current exchange rate of NOK 5.9845/1 USD. Which means that the deal in US Dollars is valued at $221,499,273 as of this post.
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