Centrica takes majority stake in Venture

24th Aug 2009 10:56

Energy giant Centrica said it has acquired or received acceptances for 50.3% of North Sea oil-and-gas group Venture Production.The British Gas owner bought another 8.4% of Venture shares this morning, taking its holding to 40.1%.It has already received acceptances for a further 10.2%, giving it majority control of the Aberdeen-based oil and gas firm.Last week, Venture continued to urge its shareholders to reject Centrica's offer, saying it 'substantially undervalues' the group.