Stephenson Harwood LLP has advised The Parkmead Group plc (Parkmead), an independent oil and gas company, on its £14.5m takeover of Lochard Energy Group plc (Lochard).
The deal will increase Parkmead’s production of oil and gas by more than 400 per cent, and the combination of the two companies will create a portfolio of assets balanced across the UK continental shelf and the Netherlands.
Stephenson Harwood advised on Parkmead’s offer to Lochard shareholders of 0.385 Parkmead shares for each Lochard share held, which valued the entire issued share capital of Lochard at £14.5m. The transaction was structured by way of a scheme of arrangement under Part 26 of the Companies Act 2006.
The Stephenson Harwood team was led by Tom Nicholls, with associates Guy Morgan and Luwisha Neskovic assisting. Lochard was advised by Eversheds LLP.