City & Corporate: Joint oil venture calls in College Hill for takeover

Dyon, the Dutch company bidding to take over Edinburgh Oil & Gas (EOG), has appointed College Hill to handle financial PR for the estimated £133m deal.

Dyon was established last month as a 50-50 joint venture between oil companies Oranje-Nassau Exploration & Production and Dyas UK (a subsidiary of Dutch company SHV). College Hill is tasked with providing media and analyst relations support on a project basis.

The job entails communicating the value of the deal for EOG shareholders to national and Scottish regional newspapers. It will also target oil and gas analysts at sell-side brokers, said College Hill partner Ben Brewerton, who leads the account with partner Jim Joseph.

College Hill will communicate the estimated £50m of extra investment required to bring the Buzzard North Sea oilfield - in which EOG has a five per cent production share - onstream in the fourth quarter of 2006.

EOG was approached initially by Oranje-Nassau and Dyas UK last year.

EOG's board has recommended the deal. Shareholders will vote later this month and, if approved, the deal is expected to be completed in June.

College Hill won the account in a three-way pitch last month. Brewerton and Joseph report to Oranje-Nassau MD Rene Mulder and Dyas UK director Hans Tijssen.

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