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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 9 pages

Country: United Kingdom

Sector: Exploration and Production (Energy)
Sinopec International to Acquire 49% Stake in Talisman Energy (UK) for $1.5 Billion - Talisman Energy Divests its Stake in North Sea in Line with its Plan of Divesting from Matured Assets - Deal Analysis from GlobalData

Summary

Sinopec International Petroleum Exploration & Production Corporation (SIPC), a wholly-owned subsidiary of Sinopec Group (Sinopec), agreed to acquire 49% stake in Talisman Energy (UK) Limited (TEUK) from Talisman Energy Inc (Talisman) for a purchase consideration of $1.5 billion, including working capital adjustments. JPMorgan Chase & Co. is acting as financial advisor, while Slaughter and May is acting as legal advisor to Talisman Energy in the transaction. Herbert Smith LLP is acting as legal advisor to Sinopec International in the transaction. The transaction had an effective date of January 1, 2012, and is expected to be completed by the end of 2012, subject to government and regulatory approval. The transaction implies deal value of $34,395.78 per boe of daily production.

Scope

- Rationale behind Sinopec's Plan of acquiring 49% stake in Talisman UK
- Rationale behind Sinopec's plan to acquire stake in Talisman Energy UK
- Geography Covered- UK

Reasons to buy

- Develop a sound understanding of Talisman's business plan and Sinopec's acquisition plan around the world
- Rationale behind Sinopec's plan to acquire 49% stake in Talisman UK

Keywords

North Sea, Divestment, Northern Business Area (NBA) and Central Business Area (CBA)
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