London, 13 April 2007 – LAWFUEL – Law Newswire – Baker & McKenzie is advising RAK Petroleum PCL on its recommended £208 million cash offer for Gulf Keystone Petroleum Limited, which was announced today. The offer is being structured as an amalgamation under Bermuda law.
This is the second major transaction that Baker & McKenzie has advised RAK Petroleum PCL on in the last few weeks, the first being the acquisition of Indago Petroleum Limited’s exploration and production assets for £194 million which completed on 5 April.
Gulf Keystone Petroleum Limited is an AIM-listed company, established to pursue the exploration, development and production of oil and gas, primarily in North Africa and the Middle East. It is focused on exploration in proven hydrocarbon-bearing basins and on the appraisal and exploration of existing undeveloped discoveries.
RAK Petroleum PCL is an unlisted public company incorporated in the Ras Al Khaimah Free Zone and was established in late 2005. It was founded with the objective of initiating, participating, investing and developing energy related projects, assets, ventures and businesses in the highly prospective Gulf Cooperation Council markets and beyond. RAK Petroleum is strategically focused on developing into an international, integrated oil and gas company.
Helen Bradley, Corporate Partner at Baker & McKenzie, said: ”We are delighted to have acted for RAK Petroleum in these cornerstone acquisitions, which provide RAK Petroleum a strong platform to develop its strategic aims.”
The Baker & McKenzie team for both transactions was led by Corporate Partners Helen Bradley (London) and Jonathan Cahn (Washington). They were supported by Corporate associates Robert Adam, Sophie Chandauka and Rob Hewitt in London and Marian Hagler in Washington.
Goldman Sachs International acted for RAK Petroleum on the Gulf Keystone acquisition and Citigroup on the Indago acquisition.
Memery Crystal LLP acted for Gulf Keystone Petroleum Limited and White & Case LLP acted for Indago Petroleum Limited.