Siccar Point Energy $1 billion acquisition of OMV UK

11/11/2016

Acquisition finance, Public acquisition

Value:

$ 1 billion

Status:

Announced

Date:

11/11/2016

Overview:

Siccar Point Energy has acquired the UK assets of OMV.
The transaction value is estimated at $1 billion, consisting of a $750 million payment and a contingent payment related to Rosebank field valued at $125 million.
OMV UK has assets in the Shetland islands including interests in the Schiehallion, Rosebank, Cambo and Black Rock fields.
Siccar Point is backed by funds managed by Blackstone and Blue Water Energy.
OMV is a listed Austrian oil and gas company.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal types:

Acquisition finance
Public acquisition

Practice area:

M&A

Industry sector:

Oil and gas

Firms:

Ashurst

Party: Siccar Point Energy (Acquirer, Borrower)

Lawyer: Michael Burns

Bracewell

Party: ING (Lender)

Lawyers: Darren Spalding, Jason Fox

CERHA HEMPEL

Party: OMV (Seller)

Lawyers: Clemens Hasenauer, Lorenz Pracht

Watson Farley & Williams

Party: OMV (Seller)

Lawyer: Andy Savage

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