Royal Dutch Shell has reached an agreement to buy London-listed Cove Energy for �1.2bn in a bid to tap into East Africa's gas reserves.
Shell Bidco, a subsidiary of the Anglo-Dutch giant, agreed to pay 220 pence per share, an increase of more 10% on its first bid made earlier this year.
The deal still needs approval from the Mozambique government.
Separately, miner Anglo American said it had sold the South African arm of Scaw Metals for about $430m (�269m).
The sale to an investment consortium represents part of Anglo's wider move to focus on core assets
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