(CercleFinance.com) – Maurel & Prom announces that its Board of Directors has authorized the signing of a share purchase agreement
with Carlyle International Energy Partners for the acquisition of 100% of the shares of Assala Energy Holdings Ltd. and all of its crude oil production (‘upstream’), transportation and storage (‘midstream’) subsidiaries in Gabon.
The consideration paid to the seller is $730 million at closing.
According to Olivier de Langavant, managing director of M&P, this acquisition represents ‘a major step’ for M&P.
‘The combination of our portfolios allows the Group to have a large base of long-lived, low-cost onshore operated assets, offering long-term visibility and considerable development potential, in a stable country where M&P has been operating for more than fifteen years,” he added.
Completion of the Transaction is expected between the fourth quarter of 2023 and the first quarter of 2024.