Transatlantic Petroleum Ltd., a global oil and gas exploration and production company, recently announced the approval of an agreement and plan of merger with TAT HoldCo LLC, a privately-held company. The deal was finalized on June 14, 2021, and the transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

The merger agreement states that each outstanding common share of Transatlantic Petroleum will be converted into the right to receive $0.85 in cash. Following the completion of the merger, Transatlantic Petroleum will become a privately-held company, and its common shares will no longer be traded on any public stock exchange.

The approval of the merger agreement is a significant milestone for Transatlantic Petroleum, as it will provide the company with financial stability and support to pursue its strategic objectives. The company has been working diligently to enhance its financial performance and streamline its operations in recent years, and the merger is expected to accelerate this progress.

Transatlantic Petroleum has a strong track record of success in the oil and gas industry, with a global portfolio of assets that includes production and exploration operations in Turkey, Bulgaria, and Albania. The company’s focus on cost-effective operations and strategic acquisitions has enabled it to build a diverse and profitable business.

The merger with TAT HoldCo LLC is expected to strengthen Transatlantic Petroleum’s financial position and provide the company with access to additional resources to fund its growth. The merger will also provide the company with greater operational flexibility, enabling it to pursue new opportunities in the oil and gas sector.

In conclusion, the approval of the agreement and plan of merger between Transatlantic Petroleum and TAT HoldCo LLC represents a significant milestone for the company. The merger is expected to provide Transatlantic Petroleum with the financial stability and operational flexibility it needs to pursue its strategic objectives and achieve sustainable growth in the future.