London – Mayer Brown has advised independent energy company VAALCO Energy ("VAALCO") on its all-cash acquisition of Svenska Petroleum Exploration ("Svenska"), a Sweden-based offshore oil company, for a net purchase price of $40.2 million. The acquisition strategically expands VAALCO's footprint in West Africa and provides further development opportunities in the region.
Based in Houston, Texas, US, and listed on both the New York and London stock exchanges, VAALCO is an independent energy company with production, development and exploration assets across Gabon, Egypt, Equatorial Guinea, Canada and, following the completion of the acquisition, Cote d'Ivoire.
Svenska is an exploration and production company based in Stockholm, Sweden and its primary asset is a non-operated working interest in a deepwater producing field in offshore Cote d'Ivoire.
The Mayer Brown team was led by Corporate & Securities partner Kate Ball-Dodd and included Corporate & Securities partners Harriet Hainsworth, Bob Palmer (both London) and John Ablan (Chicago) and associates Alexander Sperling, Georgia Stylianou (both London) and Katelyn Merick (Washington DC), Finance partner Olivier Mélédo and associate Stéphane Joly (both Paris), Employment & Benefits partner Christopher Fisher, senior associate Francesca Ingham and associates Ruth Neligan and Cheryl Stevart, Tax partners Kitty Swanson (all London) and Scott Perlman (Washington DC), IP partner Mark Prinsley and associate Alasdair Maher and Environmental partner Tim Baines (all London).