Press Release from: Carey Olsen, Wednesday 17 January, 2024.
Lawyers from Carey Olsen’s corporate team have acted as Jersey counsel for long standing client, Wentworth Resources plc (“Wentworth”), on its £61.7 million takeover by Maurel & Prom (“M&P”).
A Jersey company previously listed on the London AIM market, Wentworth has provided affordable and reliable natural gas to fuel Tanzania’s socioeconomic development for the last 20 years. M&P is an oil and gas exploration and production company listed on Euronext Paris, specialising in the production of hydrocarbons.
The takeover of Wentworth by M&P, conducted by way of a Jersey law scheme of arrangement, has increased M&P’s working interest in Tanzanian gas field Mnazi Bay from 48.06% to 80%. The acquisition is set to strengthen the long-term partnership between M&P and state oil company Tanzania Petroleum Development Cooperation (“TPCD”), as TPCD is expected to increase its stakes in Mnazi Bay from 20% to 40%. The arrangement would result in M&P holding 60% ownership of Mnazi Bay and TPDC holding the remaining 40%.
The high net worth (HNW) offshore investment market, catering to affluent individuals with substantial financial assets, has witnessed steady growth over recent years. Valued at approximately USD 15.19
Europe’s legislators reached a provisional agreement on the anti-money laundering rulebook. Crypto firms will be obliged to carry out additional customer due diligence.Some onerous provisions for
Press Release from Carey Olsen, Thursday 26 September, 2024. Carey Olsen Bermuda Limited partner Steven Rees Davies has been recognised as one of Bermuda’s leading practitioners for Fintech
The Monetary Authority of Singapore (MAS) has recently introduced new guidelines for Single Family Offices (SFOs) applying for tax incentives under the Section 13O and Section 13U schemes. The changes