Simpson Thacher represented ABG Sundal Collier ASA, Pareto Securities Inc., SpareBank 1 Capital Markets Inc., Banco BTG Pactual S.A. – Cayman Branch and Itau BBA USA Securities, Inc., as International Placement Agents, in connection with the initial public offering of 443,666,666 shares at an offer price of NOK 6 per share of Seacrest Petroleo Bermuda Limited (“Seacrest”) and concurrent private placement of its shares.
Seacrest intends to use the net proceeds from the Transaction to pay a portion of the balance of the purchase price of the acquisition of the assets that compose the Norte Capixaba cluster, located in the Brazilian state of Espírito Santo. Seacrest is an independent oil and gas producer focused on the redevelopment of mid-life onshore producing oil and gas fields, whose assets are located in Brazil and represent (i) a cohesive set of attractive producing fields and (ii) the Norte Capixaba terminal agreed to be acquired in the context of the divestment program run by Brazil’s national oil company, Petrobras.
The Simpson Thacher team for the transaction was led by partner Grenfel S. Calheiros (Capital Markets – São Paulo) and included associates Alejandro De Ramon-Laca (Capital markets – London), Siddharth Fresa and João Felipe Rocha (Capital Markets – São Paulo), as well as partner Jonathan Cantor and associate Scott Grundei (Tax – New York).