Transactions & Cases Detail



Transaction/Case Details

Glencore acquires Caracal for C$1.48 billion

DATE CLOSED

July 8, 2014

BUSINESS SECTOR

Oil & Gas

LEAD OFFICE

Toronto

VALUE

1.48 Billion CAD


OVERVIEW

On July 8, 2014, Glencore plc (“Glencore”) completed the acquisition of Caracal Energy Inc. (“Caracal”) through a wholly owned subsidiary by way of a plan of arrangement for all cash consideration of approximately C$ 1.48 billion. Caracal was listed on the London Stock Exchange ("LSE") and focused on oil and gas exploration, development and production activities in the Republic of Chad.

Glencore’s ordinary shares are listed on the LSE’s main market with a secondary listing on the Main Board of the Stock Exchange of Hong Kong limited and on the Johannesburg Stock Exchange. Glencore is one of the world’s largest diversified natural resource companies, is a major producer and marketer of over 90 commodities worldwide. 

McCarthy Tétrault represented Glencore and was also responsible for the Competition Act and Investment Canada Act approvals. The deal team consisted of Don Houston, Oliver Borgers, Dominic Therien and Jonathan Bitran.

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