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What the new Labour government means for your money

Now that the dust has settled on the election we can take stock of what a Labour win will mean for your finances

Premier Oil shareholders support acquisition of E.ON North Sea assets

Reuters

LONDON (Reuters) - Premier Oil (PMO.L) shareholders approved the oil producer's $120 million takeover of E.ON's (EONGn.DE) North Sea oil and gas fields on Monday, as the deal cleared its final hurdle.

As many as 99.99 percent of votes cast at a special shareholder meeting on Monday supported the transaction, which will give Premier additional stakes in 40 oil and gas licences in the UK North Sea.

Premier, whose shares touched a five-month high of 77.50 pence per share on Monday, said the deal will complete by the end of this month.

When the transaction was first announced, Premier's shares were suspended as the deal was classified as a reverse takeover.

(Reporting by Karolin Schaps; editing by Jason Neely)