DIG/ The American Carlyle Group has just made a huge profit by finally selling its subsidiary Assala Energy to the Gabonese State to the detriment of the oil company Maurel & Prom.
While it was supposed to sell it, 7 months earlier, for 730 million dollars (440 billion francs) to the French, it finally sold it for almost double (1.3 billion dollars / 790 billion francs) to the Gabonese state.
Why such a gap?
For the moment, the Gabonese authorities have not officially announced the amount of the purchase of Assala Energy, merely rejoicing over this transaction. “return to oil sovereignty”.
An attitude that raises a number of questions: What financial arrangement enabled the purchase of Assala Energy? How much was the deal made? Why did the State pay double the transfer amount granted to Maurel & Prom?
Despite being very busy on a daily basis, the Facebook page of the Ministry of Oil makes no mention of this operation, considered to be “of great historical significance”. Not a single line…
But the explanations of the managing director of the GOC, Marcellin Simba Ngabi (photo), provide several insights into the high amount of the transaction.
In fact, the first deal concluded between the American and the French only concerned that…75% of Assala Gabon’s assets.
However, the Gabon State, which already held 25% of Assala Gabon, bought the entire Assala Energy holding company. Which includes Assala Trading, Assala Upstream and Assala Energy UK.
Anything that can explain the high amount of the transaction.
“Gabon, through the purchase of Assala Gabon, bought the Assala holding company. This holding company owns several entities: Assala Gabon, Assala Trading, Assala UK and Assala Upstream.
Until now, the Gabonese State was only a 25% shareholder in Assala Gabon.
Today, the Gabonese state has purchased all of these entities. Whether they are those located outside Gabon or those located in Gabon”he explained during the buyout ceremony.
For the moment, it is indicated, the deal between GOC and Carlyle would not be completely completed, since it is subject to certain classic suspensive conditions before its finalization.
As a reminder, in 2017, CIEP, the non-American energy arm of Carlyle, acquired Shell’s aging operations in Gabon to… 628 million dollars (381 billion francs).
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2024-02-18 10:31:10