Pertamina收购Maurel&Prom股份

Indonesian state Pertamina completed its acquisition of a 24.53% stake in French independent Maurel & Prom, it was announced late August 25.The stake represents the entire M&P shareholding held by Pacifico, owned by French businessman and M&P chairman Jean-Francois Henin.A joint statement by Pertamina and M&P said that the 24.53% stake was valued at €201.2m and noted that the block trade was completed for €4.20/share, on top of which a €0.50/share earn-out is payable if the Brent crude oil price remains above $65/b during 90 consecutive trading days in calendar 2017.

Pertamina said on August 1 that it would offer the same terms to buy the rest of M&P, if the French firm’s directors give a “favourable reasoned advice” on such a friendly bid following advice from their independent expert, Ledouble. Such a takeover would put M&P’s market value at 100% at about $1bn. France’s M&P said it will continue to develop its current operations while also functioning as an arm of Pertamina in implementing the latter’s international upstream growth strategy.