Bracewell Represents Maurel & Prom on Acquisition of Assala Energy

LONDON – Bracewell (UK) LLP represented Etablissements Maurel & Prom S.A. in relation to the debt financing aspects of Maurel & Prom’s acquisition of Assala Energy Holdings Ltd, an upstream oil exploration and production company operating in Gabon. The share purchase agreement was signed with Carlyle International Energy Partners on 15 August 2023.

The acquisition will be funded by an acquisition bridge facility for up to $750 million and the upsizing of Maurel & Prom’s existing bank loan facilities by $183 million. Both facilities are supported by Maurel & Prom’s controlling shareholder Pertamina. Assala Energy’s existing $600 million reserve-based lending facility will be rolled over on completion of the acquisition.

Bracewell lawyers involved in the transaction include:

Partner: Eimear Murphy

Senior Associates: Rory Wilson and Catherine Grant

Associates: Onis Chukwueke-Uba and Sameer Ahuja