To our esteemed investors and analysts,
Etablissements Maurel & Prom S.A. (M&P), affiliation of Subholding Upstream Pertamina has embarked on a transformative acquisition that solidifies its position as a leading onshore operator in Gabon. The acquisition involves Assala Energy Holdings Ltd., encompassing full ownership of its upstream and midstream assets portfolio in Gabon. The consolidation yields several benefits:
Olivier de Langavant, M&P's CEO, emphasizes the acquisition's significance, underlining the amalgamated potential, operational stability, and value creation for shareholders. Advisors played pivotal roles in facilitating the transaction.
This acquisition promises transformative benefits for M&P, establishing enduring stability, operational expansion, and strategic prominence within the industry. The synergy between Assala's assets and M&P's Gabon presence offers substantial operational and financial optimization potential. M&P's acquisition will provide an extensive footprint, strategic infrastructure access, and skilled management, aligning with its commitment to ESG goals and partnership with the Gabonese government.
The transaction's financial components comprise an economic effective date, a transaction consideration of $730 million, continuation of Assala's existing RBL facility, debt upsize, an acquisition bridge facility, and backing from Pertamina. The increase in M&P's debt facility, effective by August 2023, is independent of the transaction's completion.
Furthermore, we encourage you to visit the Pertamina website to have our latest news and Investor information: https://www.pertamina.com/en/Investor-relations
We sincerely appreciate your continued and profound interest in Pertamina. If there any questions regarding the following material or anything related to Pertamina’s scope of business, please do not hesitate to contact the Pertamina Investor Relations Team through pertamina_ir@pertamina.com
Best regards,
Pertamina Investor Relations
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