One-Page Deal Sheet
Tullow Oil, Capricorn to Merge in All-Stock Deal Worth ~$830 Million; Create New Co.
Tullow Oil Plc Capricorn Energy
Announced Date
June 01,2022
Transaction Type
Corporate
Enterprise Value (EV)($MM)
830
Location
Calculated Metrics( EV/Category)
Region
Africa
Country
Egypt
Country
Mauritania
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Tullow Oil and Capricorn Energy (formerly Cairn Energy) have agreed to merge, creating a new Africa-focused E&P.
Based on stock prices, the all-stock deal is worth ~$830 million. The board of directors for both companies have approved the merger.
Tullow will be the majority shareholder and the new company will be led by its CEO, Rahul Dhir. Capricorn shareholders will receive 3.8068 Tullow shares for each share held in Capricorn.
Capricorn Assets:Capricorn's operations are focused primarily in Africa, including assets in Egypt and Mauritania.
For 2021, Capricorn's Egyptian assets produced…
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