Deal Insight
Marathon sells its 10% stake in Block 32 Angola to Sonangol EP for US$590 million
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Report summary
On 10 September 2013, Marathon announced an agreement to sell its 10% stake in deep water Block 32, in Angola's offshore Lower Congo Basin, to Sonangol EP for US$590 million. Our base case valuation for the deal is US$687 million (discounted at 10% from January 2013). This is Marathon's second disposal in Angola in a matter of months; in June 2013 Marathon sold its stake in neighbouring Block 31 to Sonangol Sinopec International for US$1.52 billion. Completion of this deal will ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Marathon
- Sonangol EP
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Block 32 Angola
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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