Fladgate advises Roxi Petroleum plc on £62m merger

Our team: Paul Airley, David Baverstock

Fladgate has advised Roxi Petroleum plc, the Central Asian oil and gas company with a focus on Kazakhstan, on the proposed merger transaction relating to its key assets. Following the merger, Roxi will increase its interest in its principal asset, the BNG project in Kazakhstan, from 58.41% to 99%. The consideration for the merger, which is payable in new Roxi shares, is approximately £62m (calculated at the closing price of Roxi’s shares prior to announcement).

Completion of the merger is subject to independent shareholder approval and regulatory consents.

Capital markets partner Paul Airley led the Fladgate team, assisted by corporate associate David Baverstock.

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