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Monday, February 19, 2024
Maurel & Prom (M&P) group notes the signing on February 15, 2024 of a share purchase agreement (SPA) between the Gabonese national oil company Gabon Oil Company and Assala Energy Investments (Carlyle) regarding GOC’s acquisition of Assala Energy Holdings and all of its subsidiaries. This signing occurred in the context of GOC’s sovereign right of pre-emption and supersedes the SPA signed by M&P and Carlyle on August 15, 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 statement went on to say that the 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.” The statement added that “M&P is currently in an important development phase, marked in particular by the ongoing restart of its activities in Venezuela.”
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