Vermilion To Pay $170M For Stake In German Gas Fields

Law360, New York (November 6, 2013, 4:11 PM EST) -- Canada-based Vermilion Energy Inc. will pay $170 million for a 25 percent stake in four natural gas fields in Germany owned by a unit of French energy giant GDF Suez SA, marking Vermilion’s entrance into the German exploration and production industry, the company said Wednesday.

Under the terms of the all-cash deal, Vermilion will acquire GDF Suez E&P Deutschland GmbH’s share of a four-partner consortium formed in 1956 between GDF Suez and ExxonMobil Corp., Wintershall Holding GmbH and BEB Erdgas und Erdoel GmbH to explore, develop...
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