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Tulip Oil To Acquire 75% Stake In Rhein Petroleum: Tulip Oil's Move To Expand Its Business
GlobalData, Jan 2011, Pages: 7
Tulip Oil To Acquire 75% Stake In Rhein Petroleum: Tulip Oil’s Move To Expand Its Business - Deal Analysis From GlobalData
Summary
Tulip Oil Holding B.V. (Tulip Oil), an oil and gas company, entered into an agreement to acquire 75% stake in Rhein Petroleum GmbH (Rhein Petroleum), an oil and gas company. Under the terms of the agreement, Tulip Oil will acquire 55% interest in Rhein Petroleum from Deutsche Rohstoff AG (Deutsche Rohstoff), a diversified resource company and whole of 20% stake in Rhein Petroleum from Herzford International Limited (Herzford International), an oil and gas consulting and service company. For selling its 55% stake, Deutsche Rohstoff will receive €6.7m ($8.84m) in cash as well as up to €5.1m ($6.73m) depending on the achievement of certain milestones and will also be refunded its shareholder loan of €0.5m ($0.66m). Deutsche Rohstoff will continue to hold 25% stake in the company.Upon completion of the transaction, Tulip Oil will hold 75% stake in Rhein Petroleum.
Scope
- Rationale behind Tulip Oil acquiring stake in Rhein Petroleum
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, And Joint Ventures taking place in European Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Germany's oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
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