A Locke Lord team led by Kevin Atkins and Matt Daffurn (both of London) represented TBNG Limited, an investment vehicle of Hannam Investments, the investment office of Mr. Ian Hannam, in the acquisition of onshore producing gas assets from Valeura Energy. The assets, located in the Thrace Basin of Turkey, will be purchased for a cash consideration of $15.5 million plus royalty payments of up to an additional $2.5 million. The deal involved a mix of equity investment and an acquisition finance facility, and Locke Lord is acting for the client as buyer, borrower and equity issuer. Additional assistance was provided by Nick Dent and Nick Jennings (both of London).
Posted on November 2, 2020