Maurel & Prom: Exercise of the GOC’s Pre-Emptive Right on the Acquisition of Assala
PARIS, February 16, 2024--(BUSINESS WIRE)--Regulatory News:
Etablissements Maurel & Prom S.A. (Paris:MAU) ("M&P") notes the signing on 15 February 2024 of a share purchase agreement ("SPA") between the Gabonese national oil company Gabon Oil Company ("GOC") and Assala Energy Investments Ltd. ("Carlyle") regarding GOC’s acquisition of Assala Energy Holdings Ltd and all of its subsidiaries ("Assala"). This signing has occurred in the context of GOC’s sovereign right of pre-emption and supersedes the SPA signed by M&P and Carlyle on 15 August 2023.
M&P confirms and reiterates its wish to remain a trusted partner of the Republic of Gabon, as evidenced by its presence and its projects in the country for nearly 20 years now.
The M&P Group is in a very healthy financial position, with an expected net cash position at the end of March 2024 (approximately $270 million in cash and cash available, versus $266 million in gross debt), and significant borrowing capacity.
M&P is currently in an important development phase, marked in particular by the ongoing restart of its activities in Venezuela.
For more information, please visit www.maureletprom.fr/en/
This document may contain forecasts regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forecasts contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These forecasts are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris
SBF 120 – CAC All-Tradable – CAC Small – CAC Mid & Small – Eligible PEA-PME and SRD
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
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