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Ophir Energy to Acquire Dominion Petroleum for $186m - While Expanding its Presence in Tanzania and Congo, Ophir Energy Enters Uganda and Kenya
GlobalData, Oct 2011, Pages: 6
Ophir Energy to Acquire Dominion Petroleum for $186m - While Expanding its Presence in Tanzania and Congo, Ophir Energy Enters Uganda and Kenya - Deal Analysis from GlobalData
Summary
Ophir Energy Plc (Ophir Energy) agreed to acquire the entire issued share capital of Dominion Petroleum Ltd. (Dominion Petroleum) for a purchase consideration of £118.2m ($186.3m). As a part of the consideration, Ophir Energy will issue 0.0244 new shares for each Dominion Petroleum share held. The offer price represents a 64.2% premium to Dominion Petroleum’s closing price of £0.036 ($0.056) per share on October 12, 2011.
J.P. Morgan Cazenove Limited is acting as financial advisor to Ophir Energy, while BofA Merrill Lynch and RBC Capital Markets, LLC are acting as financial advisors to Dominion Petroleum for the transaction.
The transaction will give Ophir Energy an opportunity to reinforce its position and build a net deepwater acreage portfolio in the prospective deepwater exploration plays in East Africa.
Scope
- Rationale behind Ophir acquiring Dominion Petroleum,
- Strategic benefits for the companies involved,
- Geography covered -East Africa
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in East Africa E&P industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the East Africa's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
Keywords
Ophir Energy, Dominion Petroleum, East Africa, Tanzania, Congo, Kenya, Uganda
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