Ashurst advises EnQuest PLC on its capital raise in relation to the acquisition of Golden Eagle
02 July 2021
EnQuest is an oil and gas production and development company, with operations in the UK North Sea and Malaysia. Its shares are listed and trade on both the London Stock Exchange and NASDAQ Stockholm.
The Capital Raising is being undertaken to part fund EnQuest's proposed acquisition of a 26.69% non-operated equity interest in the Golden Eagle Area Development in the UK North Sea (the "Acquisition").
Due to the size of the Acquisition relative to its size, the Acquisition constitutes a reverse takeover for the purposes of the Listing Rules and requires shareholder approval and upon completion of the Acquisition, re-admission of its shares to the premium listing segment of the FCA's Official List and to trading on the LSE's main market for listed securities.
The Ashurst team was led by corporate partner Karen Davies. She was supported by partners Jeffrey Johnson, Huw Thomas and Nicholas Gardner, senior consultant Nicholas Stretch, senior associates Harriet Gray, Rodrigo Romero Hidalgo, Grahame Fischer and Amber Walker and associates Aaron Koh, Ben Pearson, Krishna Parikh and Shayaan Zaraq Bari.
