Ratio Petroleum agrees to acquire Pharos Energy for 124 million pounds.

On June 24, Israeli energy company Ratio Petroleum announced that it has agreed to acquire all issued and to be issued ordinary shares of the UK-listed oil and gas company Pharos Energy, with a total transaction value of approximately 124.3 million. Under the agreement, Pharos shareholders could receive a maximum cash return of 28 pence per share, including 23.0683 pence cash consideration, 4 pence special dividend, and 0.9317 pence dividend at the end of the 2025 fiscal year. The offer represents a premium of approximately 10.24% over Pharos' closing price of 25.4 pence on June 23. Pharos' main assets are located in Egypt and Vietnam, while Ratio focuses on oil and gas exploration and development in the Eastern Mediterranean.