SYDNEY -(Dow Jones)- Arrow Energy Ltd. (AOE.AU) said Monday that a proposed A$3.44 billion takeover of the bulk of its Australian assets by Royal Dutch ShellPLC (RDSB.LN) and PetroChina Corp. (PTR) remains on track to be sealed by lateJuly.
In a slideshow presentation lodged with the Australian Securities Exchange,Arrow said its shareholders are still expected to vote on the pair’s A$4.70 pershare cash offer on July 14, with a related court ruling expected July 29 andlast day of trading in Arrow shares expected July 30.
Arrow on Monday also released a scheme booklet explaining the deal toshareholders, which it said has been court approved and lodged with thesecurities regulator.