Mourant Ozannes advises on the £924m takeover of Heritage Oil

Mourant Ozannes has advised Heritage Oil on its takeover by Energy Investments Global, a wholly owned subsidiary of Al Mirqab Capital SPC. 

The takeover, which was implemented by way of a Jersey court sanctioned scheme of arrangement, valued Heritage Oil at approximately £924m. Anthony Buckingham, Heritage Oil’s chief executive officer, retained a 20 per cent interest in Heritage Oil following completion of the takeover. 

Heritage Oil is an oil and gas production and exploration company incorporated in Jersey with its head office on the island. Prior to completion of the takeover, Heritage Oil was listed on the London Stock Exchange with a secondary listing on the Toronto Stock Exchange. 

Al Mirqab is an investment vehicle that is indirectly and beneficially owned by His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al Thani and his family in a private capacity. 

The Mourant Ozannes team that advised Heritage Oil was led by partner James Hill and senior associates Jon Woolrich and Andrew Salisbury. Mourant Ozannes, which has acted for Heritage Oil since 2008, provided Jersey law advice to Heritage Oil on all aspects of the transaction.

McCarthy Tétrault acted as Heritage Oil’s English and Canadian counsel.

Mishcon de Reya acted as Al Mirqab’s English counsel and Ogier acted as Al Mirqab’s Jersey counsel.