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Big Energy Joint Stock Company has signed share purchase agreements with Premier Oil Group Limited and Premier Oil Overseas BV, wholly owned subsidiary companies of Harbour Energy PLC., to acquire operator right and all of the shares of Premier Oil Vietnam Offshore B.V.(POVO) and Premier Oil (Vietnam) Limited (POVL). ASL LAW is proud to be the buyer’s law firm in the M&A deal.
Big Energy Joint Stock Company, a wholly-owned subsidiary of Big Capital Joint Stock Company, has signed share purchase agreements with Premier Oil Group Limited and Premier Oil Overseas BV, wholly owned subsidiary companies of Harbour Energy PLC., to acquire operator right and all of the shares of Premier Oil Vietnam Offshore B.V.(POVO) and Premier Oil (Vietnam) Limited (POVL), in which POVO – a company incorporated in Netherlands which holds a 28,125% participant interest and POVL – a company organised and existing under the laws of the British Virgin Islands which holds a 25% participant interest in the oil and gas exploitation contract for Block 12W, Operator, Nam Con Son Basin, Offshore Vietnam.
When the deal comes into effect, Big Energy Joint Stock Company will acquire operator right and all of the shares of Premier Oil Vietnam Offshore B.V.(POVO) and Premier Oil (Vietnam) Limited (POVL). The acquisition is expected to be completed at the end of 2023 following receipt of the necessary approvals from Vietnamese authorities.
In the context of the merger and acquisition market in Vietnam in general and in the world in particular has encountered somewhat stagnant recently, the M&A deal between Big Energy Joint Stock Company and Premier Oil Group Limited, Premier Oil Overseas BV is considered a positive signal for the M&A market in Vietnam and in the region.
Contributing to the completion of the deal in the role of a M&A Legal consulting company for Big Energy along with our law firm partners in Netherland, BVI, ASL LAW has helped both sides to do legal Due Diligence on the target company and to review the contract and negotiate the terms in the deal as a legal support to Big Energy Joint Stock Company so that all sides could have come to an agreement that suits their interests and benefits.
Source: VIR
***About Big Energy: Big Energy is a newly established company, dedicated to the oil and gas business in Vietnam and worldwide. Big Energy is a subsidiary of Big Capital JSC, the majority of which is owned by Mr. Vu Quang Hoi, a prominent businessman in Vietnam, who is the founder of Bitexco Group of Companies – a leading multidisciplinary private company in Vietnam (“Bitexco Group”). With respect to the E&P business in Vietnam, Bitexco Group has been active on offshore acreage for over 10 years. Source: Bitexco
— ASL LAW’s cross border service —
ASL LAW is proud to be the law firm of the buyer. This deal show the full capacity and expertise of ASL LAW in working with the cross border M&A which aligns with our moto “Where Vietnamese businesses go ASL LAW is there to provide comprehensive legal services“.
ASL LAW is the top tier M&A law firm in Vietnam. If you need any advice, please contact us for further information or collaboration.
