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Midwestern O&G, San Leon to Acquire Mart Resources

Midwestern Oil and Gas Company Ltd, San Leon Energy Mart Resources Inc
AnnouncedJan 25, 2016
TypeCorporate
LocationWest Africa
Announced Date
January 25,2016
Close Date
March 24,2016
Transaction Type
Corporate
Enterprise Value (EV)($MM)
263




Snapshot
Location
Region
Africa - West Africa

Country
Nigeria

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Mart Resources, Inc. has entered into an arrangement agreement with Midwestern Oil & Gas Company Limited, San Leon Energy Plc and 1038221 B.C. Ltd.

Under the terms of the Arrangement Agreement, Acquireco, a wholly owned subsidiary of Midwestern, will acquire all of the issued and outstanding common shares of Mart by way of a plan of arrangement under the Business Corporations Act (Alberta). Each Mart shareholder will receive CAD$0.25 in exchange for each Mart common share held for aggregate consideration of all Mart shares of approximately CAD$89.2 million. At closing, Mart and its…



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