PLMJ advises GALP on the sale of upstream assets in Mozambique
PLMJ has advised GALP on the negotiation and signing of an agreement for the (indirect) sale of its 10 per cent stake in the exploration concession in area 4 of the Rovuma basin in northern Mozambique to Abu Dhabi National Oil Company (ADNOC), an oil company from the United Arab Emirates.
The closing of this transaction, which was communicated to the CMVM last week, is subject to obtaining regulatory approvals and will allow GALP to receive a cash inflow of around 650 million dollars, with additional contingent payments of 500 million dollars also planned.
The PLMJ team was led by Diogo Perestrelo, partner and co-head of Corporate M&A, and included Rúben Brigolas, a senior consultant from the team, Nuno Serrão Faria, managing associate, Rita Pereira Jardim, a senior associate and Nuno Morgado Pereira, a senior associate from Banking and Finance.
