BNP Paribas Has Stand Out Year in Energy & Natural Resource Group
2007 was a milestone year for BNP Paribas Corporate Finance in the Americas. BNP Paribas' Energy & Natural Resources Group has been involved in eight significant transactions in the calendar 2007 period, acting as financial advisor to Zijin Consortium, EnCana, Groupe Delangis and on several transactions for Conduit Capital Partners LLC and CITGO Petroleum Corporation.
The Energy and Natural Resource sector, which was created in 2005, is one of three core focus areas for Corporate Finance in North America in addition to Consumer and Industrials. BNP Paribas' Corporate and Investment Bank has developed over many decades a global leadership role in leveraging the strong Oil & Gas and Metals & Mining franchises of BNP Paribas' Energy, Commodities, Export and Project Finance (ECEP) team. Commenting on the synergies between the two teams, Bart Schouest Co-Head of Energy and Commodities Structured Debt said, “BNP Paribas' success in this sector stems from our 30 years of expertise in the energy and commodities business, our international network and our deep commitment to our clients.”
The Energy & Natural Resources Corporate Finance Americas team acted as the global financial advisor to Zijin Consortium, a Chinese mining conglomerate, in connection with its acquisition of Monterrico Metals, a mining development group listed on the AIM board of the London Stock Exchange. In April 2007, the Zijin Consortium launched a General Offer which proposed to acquire the entire shareholding of Monterrico Metals. This was the first successful acquisition launched by a Chinese group for the controlling interest in a LSE-listed company via a General Offer and the first successful overseas acquisition launched by a Chinese group in the metals & mining sector.
The Group also acted as exclusive financial advisor to EnCana Corporation, a leading North American natural gas producer with an enterprise value of approximately USD 60 billion. BNP Paribas advised EnCana Corporation on the sale of its wholly-owned affiliate EnCana International Chad Ltd., which owns exploration assets in Chad, to China National Petroleum Corporation (CNPC), one of the world's leading integrated energy companies, for approximately USD 203 million.
In October 2007, BNP Paribas' Energy & Natural Resources Group acted as exclusive financial advisor to Groupe Delangis on the sale of a 50% interest to Sprague Energy. Groupe Delangis, through its main affiliate Kildair Service Ltée (“Kildair”), is a premier marketing company that trades a wide range of heavy fuel oil and other petroleum products in Northeast Canada and the Northeastern U.S. Sprague is one of the largest suppliers of energy and materials handling services in New England and is a subsidiary of Axel Johnson, Inc., a member of the Axel Johnson Group of Stockholm, Sweden.
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