Akin Advises Discover on $244 Million Sale of Company to Tenaz Energy
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(London) – Akin advised Discover Exploration Limited (“Discover”), an upstream energy company backed by funds managed by Carlyle (NASDAQ: CG), on its sale of a company with interests in the Gateway to the Ems1 project, located on the boundary of the Dutch and German sectors of the North Sea to Tenaz Energy (“Tenaz”) (TSX: TNZ).
The purchase price was $244 million, comprised of $232 million in cash and $12 million in Tenaz common shares, with contingent consideration of up to $60 million based on the success of future exploration prospects.
The cross-practice team advising Discover was led by private equity partner David Sewell and counsel Nertila Qenani, and included private equity partner Sebastian Rice; private equity associate Callum James; and energy and infrastructure associate Alexandra Smith.
The broader Akin team included private equity partner Stephen Brown; finance partner Inderveer Hothi; tax partners Natasha Kaye and Matthew Durward Thomas; corporate associate Laura McCrea and tax associate Aaron Jenman.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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