Linklaters advises Genel Energy plc on its recommended offer for Capricorn Energy plc, a UK-listed energy producer with a portfolio of onshore development and production assets in the Egyptian Western Desert.
The transaction values Capricorn at approximately US$360m, with Capricorn shareholders to receive US$3.75 in cash consideration and the right to receive a special dividend of up to US$0.99 per Canada share.
Linklaters is also advising Genel on the acquisition financing for the transaction, including Genel’s entry into an unsecured acquisition bridge facility agreement with The Mauritius Commercial Bank Limited as sole mandated lead arranger, lender and facility agent, for a committed facility of up to US$125m to finance part of the cash consideration payable under the terms of the transaction.
The transaction, which is governed by the UK Takeover Code, remains subject to the satisfaction of certain conditions, including shareholder approval and regulatory clearances, and is expected to complete during the second half of 2026.
The cross-practice deal team is led by Corporate Partners Tom Bishop, James Inglis and Fionna Ng, supported by Managing Associate Dan Cartwright(Corporate). Banking Partner Sam Mahboubian is leading the team advising on the acquisition financing. The core team also includes Partners Jack Allen-Fitt (Energy & Infrastructure), Neil Hoolihan (Antitrust & Foreign Investment), Cara Hegarty and Nick Marshall (both Employment & Incentives).
