Twelve Seas and Brooge Petroleum completed their $1bn merger.

Twelve Seas Investment Company, a company formed for the purpose of entering into a business combination, and Brooge Petroleum and Gas Investment Company, an oil & natural gas company in the United Arab Emirates, completed their $1bn merger. "We are excited to enter into this agreement with Twelve Seas as it provides us with the ability to enter the US capital markets and provide this unique opportunity to investors globally. The US capital markets are the largest in the world and include sophisticated investors with large investments in similar public companies within our industry. We look forward to the opportunity to demonstrate our industry leading operations in the emerging global hub for oil at the Port of Fujairah in the UAE. This transaction enables BPGIC to continue its exciting growth and accelerate future opportunities," Nicolaas Paardenkooper, BPGIC CEO.