Ashurst advises OMV on strategic partnership with Sapura Energy
International law firm Ashurst is advising OMV on its agreement to establish a joint venture with Malaysia-based major independent oil and gas company, Sapura Energy Berhad.
Under the agreements, OMV Exploration & Production will pay US$540 million for a 50% stake of the issued share capital in a newly-formed company, SEB Upstream Sdn Bhd. This is based on a total enterprise value of up to $1.6 billion which comprises an equity value of up to US$1,250 million and debt of US$350 million.