Leading offshore law firm Mourant Ozannes has advised Heritage Oil Plc on its takeover by Energy Investments Global Ltd, a wholly-owned subsidiary of Al Mirqab Capital SPC.
The takeover, which was implemented by way of a Jersey court sanctioned scheme of arrangement, valued Heritage Oil at approximately £924 million. Anthony Buckingham, Heritage Oil's CEO, retained a 20 per cent. interest in Heritage Oil following completion of the takeover.
Heritage Oil is an oil and gas production and exploration company incorporated in Jersey with its head office on the island. Prior to completion of the takeover, Heritage Oil was listed on the London Stock Exchange with a secondary listing on the Toronto Stock Exchange.
Al Mirqab is an investment vehicle which is indirectly and beneficially owned by His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al Thani and his family in a private capacity. His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al Thani served as Prime Minister of Qatar, from 2007 to 2013, and as foreign minister of Qatar from 1992 to 2013.
The Mourant Ozannes team which advised Heritage Oil was led by partner James Hill and senior associates Jon Woolrich and Andrew Salisbury. Mourant Ozannes, which has acted for Heritage Oil since 2008, provided Jersey law advice to Heritage Oil on all aspects of the transaction.
James Hill commented: "Having acted for Heritage Oil for a number of years, we have seen the company evolve and undertake a number of significant transactions. It has been a pleasure to work on this deal and help take Heritage to the next stage in its continued development as a successful business."
Jon Woolrich added: "As Jersey has become a jurisdiction of choice for the establishment of holding companies, we have seen a significant number of Jersey court sanctioned schemes of arrangements. We have been fortunate to advise on the vast majority of Jersey schemes of arrangement in recent years, cementing our position as the market leader in this field. We look forward to seeing Heritage Oil's growth continue following completion of the transaction."
McCarthy Tétrault LLP acted as Heritage Oil's English and Canadian counsel.
Mishcon de Reya acted as Al Mirqab's English counsel and Ogier acted as Al Mirqab's Jersey counsel.