M&As this week: Vivo Energy Holding, Bill Barrett Corporation

Vivo Energy Holding has entered an agreement to acquire Engen International Holdings (Mauritius) from Engen for $256m in cash and shares.

The target company owns service stations, whereas the acquirer company is a fuel products distributor.

Vivo Energy will own 2,100 service stations in 24 African countries, upon completion of the acquisition.

The transaction is expected to enable Vivo energy to expand its geographical presence to nine new African countries.

Bill Barrett Corporation has agreed to acquire Fifth Creek Energy Company for $649m.

The purchase consideration includes the assumption of the target company’s debt of $54m.

The acquirer company plans to fund the transaction through the issuance of 100 million shares.

Tudor, Pickering, Holt & Co. is the financial advisor to Bill Barret, while Credit Suisse Group is the financial advisor to Fifth Creek for the transaction.

Wachtell, Lipton, Rosen & Katz is the legal advisor to Bill Barrett, while Vinson & Elkins is the legal advisor to Fifth Creek for the transaction.

Scheduled for completion by the second quarter of 2018, the transaction enables Bill Barrett to fortify its business operations.