Spain's CEPSA Drops $2.2B To Buy Coastal Energy

Law360, New York (November 19, 2013, 4:34 PM EST) -- Spanish oil firm Compania Espanola de Petroleos SAU will purchase international oil and gas company Coastal Energy Co. for CA$2.3 billion ($2.2 billion) including the assumption of CA$51 million of net debt, the companies said Tuesday, in a move that expands CEPSA's presence to Southeast Asia.

The deal, which will be made through a new, yet-to-be-named company created by CEPSA and minority investor Strategic Global Resources Ltd., gives CEPSA majority control over Coastal, a company boasting principal assets in Thailand and Malaysia with a focus on...
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