Spartan Energy Corp. closes C$1.4 billion strategic business combination with Vermilion Energy Inc.

Lead Office

Calgary

Value

1.40 Billion CAD

On May 28, 2018, Spartan Energy Corp. (“Spartan”) announced that its acquisition by Vermilion Energy Inc. (“Vermilion”) has closed. The acquisition was carried out by the way of arrangement agreement (the “Arrangement”) whereby Vermilion acquired all the issued and outstanding common shares of Spartan for total consideration of C$1.4 billion. The acquisition was executed on the basis of 0.1476 of a Vermilion share for each Spartan common share, resulting in the issuance of 27.9 million Vermilion common shares. The Vermilion shares issued to the former holders of Spartan common shares will be listed on the TSX and NYSE under the symbol "VET".

Through the Arrangement, Spartan shareholders will continue to benefit from the Spartan asset base in southeast Saskatchewan while gaining exposure to Vermilion’s high quality, internationally diversified oil and gas portfolio.

Spartan is an oil and gas company based in Calgary, Alberta.

Vermilion is an international energy producer that seeks to create value through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia.

McCarthy Tétrault LLP advised Spartan with a team led by Sony Gill that included Gordon Cameron, Farhiyah Shariff and Benjamin Layton (Business), TJ Kang and Jeremy Ho (Tax), Douglas Yoshida and Lyndsey Delamont (Litigation), Jonathan Bitran and Rick Pawluk (Competition).

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