Lawrence Graham has advised Vanoil Energy Limited, an oil and gas company listed on the TSX Venture Exchange with a portfolio of assets in East Africa, on two recommended takeovers, both of which have been announced within the last month.

The first acquisition was the successful takeover bid for Avana Petroleum Limited, which has oil and gas assets in the Seychelles. Vanoil acquired more than 90% of the issued share capital of Avana on the first day of the offer (15 March) and on 22 March commenced the mandatory squeeze out process which takes a month and following which all remaining shares will be acquired by it. The consideration is up to 25m shares in Vanoil, warrants in respect of a further 5m shares and up to $4m in cash. Avana was advised by Nabarro.

The second acquisition, which is being undertaken by way of a scheme of arrangement is for the entire issued share capital of Fluormin Plc, a company whose shares are traded on AIM. Vanoil announced its recommended takeover of Fluormin on 26 March. This is being undertaken by way of a scheme of arrangement and if approved by Fluormin shareholders and sanctioned by the court is expected to complete on 20 May. The consideration is 45m Vanoil shares and warrants in respect of a further 38m Vanoil shares. Fluormin was advised by Faskens Martineau.

David Ponsford headed up the team with assistance from Mark O'Donnell, Meera Unadkat, Amy Pilmer, Anne Schaffner, Becky Pace and Claudine Raffrey. Head of corporate Geoff Gouriet is Vanoil's relationship partner.

http://www.lg-legal.com/news/2013/04/05/lg-advises-vanoil-energy-ltd-on…