Chrysaor e&p limited completed the acquisition of united kingdom oil and gas business of conocophillips (nyse:cop).

Chrysaor e&p limited entered into an agreement to acquire united kingdom oil and gas business of conocophillips (nyse:cop) for $2.7 billion on april 18, 2019. chrysaor will fund the acquisition from existing cash resources and an upsized $3 billion reserve based lending debt facility underwritten by bank of montreal, bnp paribas, dnb bank, and ing bank. conocophillips will retain its london-based commercial trading business and its 40.25% interest in and operatorship of the teesside oil terminal. the transaction is subject to regulatory approval and other specific conditions precedent. the sale is expected to be completed in fourth quarter of 2019. proceeds from the transaction will be used for general corporate purposes. bmo capital markets limited and jefferies international limited acted as joint financial advisors for chrysaor. graham phillips, simon williams, laurence feeny, josh baxter, keith hauck, michael crossan, stephanie ball, clare hoxey, sarah mcaleer, sonia gilbert, lauren evans, david harkness, lina le roux, greg, chandralekha ghosh, andrÉ duminy and daryl cox of clifford chance acted as legal advisors for chrysaor. frank fowlie of cms acted as legal advisor to conocophillips. chrysaor e&p limited completed the acquisition of united kingdom oil and gas business of conocophillips (nyse:cop) on september 30, 2019.
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