Vermilion Energy’s C$556 Million Acquisition of Corrib Natural Gas Project

Torys LLP acted for Vermilion Energy on the acquisition.

Vermilion Energy Inc. (TSE:VET) entered into an agreement with Equinor ASA to acquire its wholly owned subsidiary Equinor Energy Ireland Limited which owns a 36.5% interest in the Corrib Natural Gas Project (“Corrib”) for a total consideration of US$434 million (C$556 million), before closing adjustments and contingent payment.

Expected to close during the second half of 2022 after all requisite approvals have been received, the transaction has an effective date of January 1, 2022.

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia.

Equinor is an energy company with more than 21,000 employees developing oil, gas, wind and solar energy in more than 30 countries.

The Torys’ team included Stephanie Stimpson (Picture), Peter Danner, Paul Grenon and Tanis Makowsky (corporate/M&A).

Involved fees earner: Peter Danner – Torys LLP; Paul Grenon – Torys LLP; Tanis Makowsky – Torys LLP; Stephanie Stimpson – Torys LLP;

Law Firms: Torys LLP;

Clients: Vermilion Energy;

Sonia Carcano

Author: Sonia Carcano