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Gold/Mining/Energy : Petro Canada
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To: Jaakko who wrote (8)3/24/2002 7:39:02 AM
From: Copperfield   of 24
 
It looks to me like the decision to sell was the result of disagreements of shareholders. This was the case in the recent past. From Veba's website:

Beginning the early 90ties it became evident that the long term objectives and corresponding upstream strategies of the DEMINEX shareholders were not anymore aligned. Consequently, effective 01.01.1998 the DEMINEX shareholders decided to split up and to transfer the company assets on a country by country basis into their own upstream portfolios. Veba Oel retained the majority of DEMINEX' assets (100% of DEMINEX' portfolios in Columbia, Indonesia, Syria, Trinidad and UK as well as minority interests in DEMINEX' assets in Egypt and Norway) and combined them with the company's own upstream ventures in Denmark, Kazakhstan, Libya, the Netherlands and Venezuela. In December 1998 DEMINEX was re-named Veba Oil & Gas (VOG).
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