An off-market takeover bid for Roc Oil by Fosun has now closed.
Billionaire Guo Guangchang’s Fosun International agreed to acquire Roc Oil for $441million in cash, giving the Chinese group assets stretching from Australia to Malaysia.
The chairman of Roc Oil has resigned from its board, the company has announced.
Mike Harding will be replaced by Bin Zhao, the president of Fosun Energy.
It follows a number of changes to the board after a $441million takeover of Roc Oil by Fosun.
Australian explorer Roc Oil has appointed a new non-executive director to its board as a nominee of Transcendent Resources Limited (Fosun).
Bin Zhao will become a board member of the wholly-owned subsidiary, after approval of the Fosun offer was made earlier this month.
