Gunvor Helped Finance Gabon's Deal to Buy Oil Producer Assala [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Commodity trader Gunvor Group helped finance Gabon's acquisition of Carlyle Group's Assala Energy, the latest example of independent energy traders stepping in with deals for oil-producing countries in Africa. The deal for the 45,000 barrel a day crude producer has been some time in the making. In January, Gabon's National Oil Company exercised what it said was a preemptive right to the assets after France's Etablissements Maurel & Prom SA struck a deal to buy the company. The move came just months after a military coup overthrew former leader Ali Bongo. Article content Assala “will enable the Republic of Gabon, reinforce its control and sovereignty over its oil and gas reserves and significantly increases its oil revenues,” Gabon National Oil Company chief executive officer Marcellin Simba Ngabi said in press statement on Tuesday. Gabon is one
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