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%.
Assets seized in Singapore’s biggest money laundering case have risen to more than S$3 billion ($2.24 billion) from S$2.8 billion in October, Singapore’s Business Times reported on Friday.The
Billionaire hedge fund managers Chris Hohn and Ken Griffin led the industry to record profits last year as bets on the stock market paid off handsomely for clients. The top 20 hedge fund managers made
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR). The ESAs call for
Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member-states. Alongside nine other countries, Cyprus was