Global law firm Ashurst Perkins Coie is advising Capricorn Energy plc on its US$396 million recommended cash takeover by DNO ASA. Under the terms of the takeover, Capricorn shareholders will receive US$5.214 per share, comprised of US$4.224 per share in cash and US$0.99 per share by way of special dividend expected to be declared prior to completion.
DNO, founded in 1971, is Norway’s oldest oil and gas exploration and production company, with a strong Norwegian heritage and shareholder base. DNO is also one of Europe’s leading publicly listed independent oil and gas companies, with a diversified portfolio of upstream assets across the North Sea (Norway and the United Kingdom) and the Kurdistan Region of Iraq.
Capricorn, a Scottish public limited company, headquartered in Edinburgh, is an independent energy company which has been listed on the Main Market of the London Stock Exchange for more than 30 years. Currently, Capricorn’s core operations are in Egypt’s Western Desert, where it holds a portfolio of onshore development and production assets, with a stated strategy to explore new value-accretive opportunities, in Egypt, the UK North Sea and the broader MENA region.
The Ashurst Perkins Coie team is being led by partner Harry Thimont (London) and senior associate Maria McAlister (London) and includes competition partner Steven Vaz (London).
