Deal Insight
Qatar's Al Mirqab Capital assumes control of Heritage Oil
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
London listed Heritage is to be taken over by Al Mirqab Capital - a privately owned Qatari investment company. Heritage's largest stakeholder - Anthony Buckingham - will retain a 20% stake. Al Mirqab's £3.20 per share offer effectively values Heritage at US$1.71 billion (US$1.37 billion for an 80% stake), and represents a 25% premium to the previous day's closing price. We value the deal at US$1,034 million; a 25% discount to the purchase price.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Nigeria
- Russia
- Deal analysis
-
Upsides and risks
-
Undeveloped resources
- Operatorship
- Partner alignment
- Security
- Fiscal terms
- Tariff receipts
-
Undeveloped resources
-
Strategic rationale
- Heritage
- Al Mirqab
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Heritage share price (£ pence) and key transactions
What's included
This report contains:
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