One-Page Deal Sheet
Cobalt to Sell Its Offshore Angola Asset For $1.75 Billion
Sonangol E.P. Cobalt International Energy, Inc.
Announced Date
August 24,2015
Effective Date
January 01,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
1750
Asset/Basin:
{"Kwanza Basin (offshore Angola)"}
Transaction Details: Require Private Equity Subscription
The Angolan National Concessionaire Sociedade Nacional de Combustveis de Angola - Empresa Pblica and Cobalt International Energy, Inc. announced the signing of a Sale and Purchase Agreement for Sonangol to acquire all of Cobalt's 40% participating interest in Blocks 21/09 and 20/11 offshore Angola for $1.75 billion with an effective date of January 1, 2015. This transaction is subject to customary Angolan government approvals which are expected prior to the end of the year.
The Sale and Purchase Agreement provides for a smooth transition to a new operator and underscores the parties'…
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