By: Benzinga
January 17, 2013 at 06:03 AM EST
Magellan Petroleum to Repurchase of 17% of its Common Stock from Sopak
Magellan Petroleum (NASDAQ: MPET ) today announced that on January 14, 2013, the Company entered into a Collateral Purchase Agreement with Sopak AG ("Sopak"), a Swiss subsidiary of Glencore International plc. Under the terms of this agreement, Magellan agreed to purchase from Sopak 9,264,637 shares of Magellan's common stock
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