Deal Insight
Qatar's Al Mirqab Capital assumes control of Heritage Oil
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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 7 images and tables including:
- 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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