SINGAPORE (Yosefardi) – SGX-listed Asiasons Capital Ltd has entered into agreements to acquire 27.5% shares of Black Elk Energy Offshore Operations LLC for US$171.65 million.
Asiasons acquires 9.96 million Class B Units in Black Elk for US$50 million payable with the issuance of 56.69 million Asiasons shares to Black Elk Energy Offshore Operations LLC.
Asiasons also acquire 24.2 million Class B units of Black Elk for US$121.65 million with the issue of 137.945 million Asiasons shares to PPVA Black Elk ‘Equity’ LLC.
Black Elk engages in the acquisition, exploitation, and development of oil and natural gas properties. The company has producing assets located offshore in US federal waters, and Louisiana and Texas state waters in the Gulf of Mexico.