On October 14, 2022, VAALCO Energy completed its previously announced definitive arrangement agreement to acquire TransGlobe Energy in a stock-for-stock strategic business combination transaction valued at US$307 million. The combination of VAALCO and TransGlobe will create a world-class African-focused E&P company supporting sustainable growth and stockholder returns. . This transaction was named the runner-up in the IFLR Americas Awards M&A Deal of the Year category.
VAALCO, founded in 1985, is a Houston, USA-based, independent energy company with production, development and exploration assets in the West African region.
TransGlobe is a cash flow-focused oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada.
Osler, Hoskin & Harcourt LLP advised VAALCO with a team consisting of Manny Pressman, Alex Gorka, Jeremy Wu, Bradley Lastman (Corporate), Neal Ross, Simon Baines, Aqeel Virk (Energy), David Davachi, Taylor Cao (Tax), Lynne Lacoursière, Shaun Parker, Abigail Ywaya (Executive Compensation and Employment), Tris Mallett and Matthew Huys (Litigation).