Global law firm DLA Piper has assisted Brazilian oil company PetroRio SA to acquire Dommo Energia SA, formerly known as OGX Petroleo e Gas SA, in a deal valued at 942.9 million reais (USD 179.9 million).
Luxembourg Partner Luis Muñoz led the DLA Piper deal team on the transaction. He confirmed that the investment will help PetroRio continue its current trajectory and achieve its future growth objectives. He added “This cross-border operation demonstrates the strength of PetroRio and is a testament to the strong vision of its management team”.
Petro Rio SA, is a Brazil-based holding company engaged in the oil and gas industry. Through its subsidiaries, the Company is mainly involved in the exploration and production (E&P) of oil and natural gas in Brazil and overseas. Luxembourg’s Country Manager, Rodrigo Vianna commented “The DLA Piper team has extensive experience and knowledge of the M&A and investment market in all jurisdictions involved, which played a key role in the success of our transaction”.
Dommo Energia is a Brazilian publicly listed oil and gas company. Under the deal, Dommo's shareholders will receive 0.05 PetroRio shares or 1.85 real per Dommo share.
PetroRio was advised by the Luxembourg, Austrian and Dutch offices of DLA Piper on the legal, tax and antitrust aspects of the acquisition with an international team headed by Luis Muñoz.