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TransGlobe Energy Corporation to Combine With VAALCO Energy
- Client News
- July 13, 2022
Paul, Weiss is advising TransGlobe Energy Corporation, an international oil and gas development and exploration company focusing on Egypt and Canada, in its merger with VAALCO Energy, Inc., an independent energy company headquartered in Houston with operations in West Africa. Under the terms of the $307 million stock-for-stock transaction, VAALCO will acquire all of TransGlobe’s outstanding common shares, resulting in VAALCO stockholders owning approximately 54.5% and TransGlobe shareholders owning approximately 45.5% of the combined company.
The merger will create a world-class African-focused exploration and production company supporting sustainable growth and stockholder returns. The transaction is expected to close in the second half of 2022, subject to shareholder and regulatory approvals, and other customary closing conditions.
The Paul, Weiss team includes corporate partners Adam Givertz and Ian Hazlett, and counsel Stephen Centa; tax partner Matthew Jordan; and executive compensation partner Lawrence Witdorchic.