Number of North Sea reverse takeover candidates has ‘diminished significantly’

The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.

Paul Weidman, corporate finance director at advisory firm Gneiss Energy, says that, although the process is a “sensible alternative” to an initial public offering (IPO) for private equity (PE) backed companies, the options are limited.