The merger 'will create a world-class Africa-focused E&P company', the firms say
Vaalco and Transglobe to merge
Combination of the independent E&P firms will be Africa-focused
Houston-headquartered independent Vaalco and Calgary-based Transglobe are merging. The two E&P firms have signed a definitive arrangement agreement under which Vaalco will acquire Transglobe shares in a “stock-for-stock" combination worth $307mn. Vaalco shareholders will own 54.5pc of the combined company while Transglobe stakeholders will take the remaining 45.5pc. The merger “will create a world-class Africa-focused E&P company” with a combined portfolio of “low-risk, high return assets” in Egypt, Gabon, Equatorial Guinea and Canada and “with significant future growth potential”, the companies say. Vaalco's contribution includes the majority stake in the Etame field in Gabon, while
Also in this section
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
5 February 2025
Growing appetite for LNG reinvigorates discussions between China and Myanmar, but civil war may prevent talk becoming action
5 February 2025
With new capacity, buyers must navigate sanctioned Russian crude, a return to traditional OPEC barrels and diversity of supply
