Herbert Smith Freehills is advising Roc Oil Company Limited (Roc Oil) on all aspects of its proposed takeover by Fosun International Limited (Fosun) valued at approximately A$474 million.
Roc Oil has entered into a bid implementation agreement with Fosun under which Fosun has agreed to make an off-market takeover bid for Roc Oil at A$0.69 cash per share.
The deal is being led by Herbert Smith Freehills partners Tony Damian and Robert Merrick and supported by senior associate Li-Lian Yeo and graduate lawyer Amelia Morgan.
The Herbert Smith Freehills team had also been advising Roc Oil on all aspects of its proposed merger with Horizon Oil Limited which has now been terminated.
Herbert Smith Freehills partner Tony Damian said: “We are delighted to be assisting Roc Oil on this important cross-border transaction. This deal is one of several high profile and significant transactions we have seen recently and demonstrates the ongoing strength of M&A activity in Australia.”
JB North & Co is acting as financial adviser to Roc Oil.
