BLP advises SDX Energy Inc. on a $40m fundraising and acquisition of Circle Oil’s assets in Egypt and Morocco from Administration
Berwin Leighton Paisner BLP have advised AIM and TSX-v listed SDX Energy Inc. (“SDX” or the “Company”) on its $40m fundraising, raising 130% of its previous market capitalisation. The fundraising is to fund and was conditional on the acquisition of a portfolio of oil and gas production and exploration assets in Egypt and Morocco, which were held by Circle Oil plc, from the Administrator of one of Circle’s subsidiaries for $30m. The acquisition and fundraising both completed on 27 January. This transformational fundraise and acquisition follows less than a year after BLP acted on SDX’s admission to AIM and $11m fundraising.
The cross-departmental BLP team was led by Alexander Keepin, assisted by Associate Caroline Stocks and Trainee Caitlin Crawford in Corporate Finance. Partner Marc Trottier and Associates Claire Wainwright and Rebecca Mundy from the Restructuring & Insolvency team advised on the acquisition, Projects Senior Associate Tim Sumner helped on the technical aspects of the transaction and Rob Eldridge and Helen Roberts advised on the employment aspects.