June 16, 2005
French independent oil company Maurel & Prom announces agreement to acquire the holding companies of the Colombian and Venezuelan oil and gas assets of London based private investment firm Knightsbridge Investments Ltd.
On June 10, Willkie client French independent oil company Maurel & Prom announced its agreement to acquire the holding companies of Colombian and Venezuelan oil and gas assets of London based private investment firm Knightsbridge Investments Ltd., for $460 million (20% of which will be reinvested in M&P shares upon completion). The deal, which was reported widely in the international press, including the Financial Times and The Wall Street Journal, will provide M&P with an additional 176 million barrels of proven and probable reserves, giving it a total of 459 million barrels. The deal was handled by Paris partners Laurent Faugérolas and Eduardo Fernandez.
