Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Fri., Apr. 26, 6:14 AM
Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.
| This Slide: #53 of 100 |
Slide #53. Vermilion Energy — GDF SUEZ E&P Deutschland GmbH's 25% interest in four producing natural gas fields and a surrounding exploration license located in northwest Germany
Acquirer:
Vermilion Energy (NYSE:VET)
Acquiree:
GDF SUEZ E&P Deutschland GmbH's 25% interest in four producing natural gas fields and a surrounding exploration license located in northwest Germany
Details:
Vermilion Energy Inc. ("Vermilion", "We" or "Our") (TSX: VET) (NYSE: VET) is pleased to announce that it has entered into a definitive purchase and sale agreement with GDF SUEZ E&P Deutschland GmbH ("GDF SUEZ") whereby Vermilion, through its wholly-owned subsidiary, will acquire GDF SUEZ's 25% interest in four producing natural gas fields and a surrounding exploration license located in northwest Germany (the "Acquisition"). GDF SUEZ is an affiliate of GDF SUEZ S.A., a publicly traded, French multinational utility. The Acquisition, which remains subject to customary conditions and receipt of all necessary GDF partner approvals, has an effective date of January 1, 2013 with closing targeted for December 31, 2013. Our estimate of our cash cost at closing of the Acquisition is approximately $170 million, subject to final closing adjustments and changes in foreign exchange rates. The Acquisition will be funded with existing credit facilities.
Vermilion Energy and its subsidiaries are engaged in the business of petroleum and natural gas exploration, development, acquisition, and production.
Open the VET Page at The Online Investor »
|
|||||||||||||||||||||
Open the VET Page at The Online Investor (in a new window) »
 Free VET Email Alerts:
Get SEC Filing Alerts Get Dividend Alerts 
|
Avg. Broker Rec.
 
|
Buy (3.30 out of 4) 45th percentile
(ranked lower than approx. 55% of all stocks covered)
Analysts' Target Price: VET Stock Forecast Based on Zacks ABR data; powered by Xignite |
