Vermilion Energy Buys Northern Petroleum Nederland

  • Business & Finance

Vermilion Energy Buys Northern Petroleum Nederland

Vermilion Energy Inc. announces that it has completed its previously announced transaction with Northern Petroleum Plc. whereby Vermilion, through its wholly-owned subsidiary, has acquired 100% of the shares of Northern Petroleum Nederland B.V.

NPN is the Netherlands subsidiary of UK-based Northern. Based on the effective date of January 1, 2013, and customary closing adjustments, Vermilion’s cash cost for the Acquisition was $27.5 million which was funded from cash on hand. Vermilion also granted Northern minority net profit participation rights on select license interests included in the Acquisition.

[mappress]

Press Release, October 11, 2013

 

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