We advise companies on acquisitions and business sales.

Kapok Capital has significant experience advising and executing international M&A transactions, particularly in emerging markets.

Acquisition services include:

• target company valuation, using discounted cash flow analysis, peer company analysis and comparable transaction review
• commercial due diligence
• advice on markup and negotiation of sale and purchase agreements
• advice on consideration structure, including deferred and contingent consideration elements
• preparation of bid packages, including bid strategy for competitive situations

Disposal services include:

• preparation of indicative company valuation
• advice on appropriate purchaser universe for marketing process
• vendor commercial due diligence on disposal business to identify transaction hurdles and propose appropriate transaction structuring
• preparation of information memorandum
• assistance with assembly of data room for potential purchasers
• advice on preparation of sale and purchase agreement and consideration structure

EXPERIENCE

Our Energy M&A experience (with Kapok Capital or previous firms):

• Acquisition of 50% interest in Okoro field offshore Nigeria by Amni International from Afren’s bondholders in security enforcement sale

• Successful bid by Amni International to purchase 40% interest of Chevron Nigeria in OML 52 licence offshore Nigeria

• Disposal by Marathon of a 20% interest in Block 32 offshore Angola to Sonangol

• Disposal by six partners in the Breagh gas field offshore UK to RWE Dea

• Disposal by Sahara Energy of a 45% interest in OPL 284 Nigeria to BG Group

• Disposal by Oil Search of its upstream interests in Egypt and Yemen to Kuwait Energy

• Disposal by Talisman Energy of 30% interest in Siri field offshore Norway to Noreco

• Disposal of Sahara’s Energy’s deepwater block OML 284 offshore Nigeria to BG Group

• Acquisition by Kausar Oil & Gas of upstream assets in Khanty-Mansisk region, Russia

• Acquisition by EnCore Oil PLC of UK Exploration Companies (AIM share swap)

• USD 2.7 billion Acquisition by China National Offshore Oil Corporation (CNOOC) of 45% interest in the giant Akpo field (OML 130) offshore Nigeria

• Reverse Takeover and Share Placing on AIM by EnCore Oil PLC

• Successful bid by E.ON Rurhgas AG to purchase Caledonia Oil & Gas

• Acquisition by Sherritt Power Corporation of an interest in Energas S.A. (Cuba)

Our Infrastructure M&A experience (with Kapok Capital or previous firms):

• Disposal of Trans-Pennine Express Rail Franchise by Arriva Trains Northern

• Securitisation of HS1 Track Access Charges by London & Continental Railways

• Sale of CTRL Operations Business to Network Rail by London & Continental Railways

• London & Continental Railways Limited – Acquisition of Railtrack HS1 Interests

• Noble & Company Limited – Acquisition of Edison PFI Interests

Our Financial Institutions M&A experience (with Kapok Capital or previous firms):

• Disposal by VTB Bank of Stake in International Moscow Bank

• Kleinwort Capital Trust PLC – Joint Venture to Establish Fund Manager

• Royal London Mutual Insurance Society Limited – Acquisition of Scottish Life

• Bradford & Bingley PLC – Demutualisation and Flotation

• Allied Zurich PLC – Reorganisation of Dual-headed Structure

Our Telecoms & Technology experience (with Kapok Capital or previous firms):

• Acquisition by Bank Turan Alem of United Georgian Telecommunications

• Uniphase Corporation – Merger with JDS Fitel to form JDS Uniphase