Global law firm Ashurst Perkins Coie is advising Pharos Energy plc on its £145.7 million recommended takeover by Serica Energy plc.
The acquisition is expected to be implemented by way of a scheme of arrangement. Pursuant to the terms of the acquisition, taking together the total value offered of 32.6683 pence per Pharos share with the FY25 Final Dividend, the aggregate amount Pharos shareholders will receive is 33.6 pence per Pharos share.
The announcement of Serica's offer follows a previous offer from Ratio Petroleum Energy on which Ashurst Perkins Coie is also advising.
Pharos is an independent energy company listed on the Main Market of the London Stock Exchange. The Pharos Group is focused on delivering sustainable growth and returns through a full-cycle portfolio of production, development, and exploration assets in Vietnam (Cuu Long and Phu Khanh basins) and Egypt (Western Desert). Serica is a leading British independent upstream oil and gas company quoted on AIM with a market capitalisation of approximately £1 billion.
The Ashurst Perkins Coie team is being led by partners Tom Mercer and Julia Derrick with support from senior associate Millie Gibbs, along with counsel John Papadakis and associates Patrick Chambers, Amelia Howison and Ismail Afzal.
