M&A

M&A

Antelopus to buy controlling stake in Selan Explorations for over Rs.140-Cr

BSE announcement,   Economic Times  

Gurgaon-based Antelopus Energy, co-founded by former Cairn Energy COO Suniti Bhat, is to acquire a 21% stake from the promoters of publicly listed Gandhinagar, Gujarat-based oil exploration and production firm Selan Explorations for INR 63.84 crore (at INR 200 per share). Blackbuck Energy Investments, a holding entity of Antelopus, - backed by private equity firms Oak tree Capital and ICE Canyon Capital - has also launched an open offer to buy 26% stake from public shareholders at the same per share price (for a potential INR 79 Cr). Founded in 1985, Selan is a hydrocarbon producing company operating 4 oil & gas fields in Cambay Basin in Gujarat. IIFL Securities is the manager to the open offer, while Asialink Advisors, founded by former CIMB India Investment Banking head Anjani Kumar, was the strategic advisor to Antelopus management team.