Other deals include Alberta-based Valeura buying Thai oil fields
Bennett Jones advised First Majestic Silver Corp. in the $45.5 million (US$33.5 million) sale of its Mexico-based silver mine. Also in this week’s deals roundup is Alberta-based Valeura signs an agreement to acquire three oil fields in the Gulf of Thailand for up to $82 million (US$60.4 million).
First Majestic to sell Mexico-based La Parrilla Silver Mine to Golden Tag for $45.5 million
British Columbia-based First Majestic Silver Corp. signed an agreement to sell the La Parrilla Silver Mine, located in Mexico, to Toronto mining firm Golden Tag Resources Ltd. in a deal valued at $45.5 million (US$33.5 million).
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Bennett Jones LLP is serving as legal counsel and National Bank Financial is acting as financial advisor to First Majestic.
The La Parrilla Silver Mine is a past producing silver, gold, lead and zinc operation that was placed under care and maintenance by First Majestic in September 2019.
Valeura agrees to buy Thailand-based Busrakham Oil and Gas assets for up to $82 million
Alberta-based Valeura Energy Inc. agreed to acquire the Thailand upstream oil producing portfolio of Busrakham Oil and Gas from Mubadala Petroleum (Thailand) Holdings Limited for a purchase consideration of up to $82 million (US$60.4 million).
The portfolio consists of three offshore licences in the Gulf of Thailand that include the Nong Yao, Jasmine/Ban Yen and Manora oil fields.
"This is a transformative transaction for Valeura, firmly establishing our company as the largest independent operator of oil production in Thailand,” said Valeura president and CEO Sean Guest. “Our forward efforts will focus on developing the potential of these assets, by projects including further development of the Nong Yao field where we are forecasting peak production rates in 2024, re-investment into the Jasmine and Ban Yen fields to continue their long history of reserves replacement, and on selective step-out opportunities where we see the potential to more fully utilise the fields' extensive infrastructure to commercialise new accumulations. Moreover, the team's demonstrated history in safe operations with a strong environmental performance is well aligned with our sustainability goals and we are delighted to welcome the approximately 180 like-minded individuals to the Valeura team.”
NexLiving to acquire US-based Northpoint Management for $53.8 million
NexLiving Communities Inc. agreed to acquire a 100 percent stake in Northpoint Management Inc. from Sheaco Holdings Inc. for $53.8 million (US$39.6 million).
NexLiving is in the business of buying recently built or refurbished, highly leased multi-residential properties in bedroom communities in Atlantic Canada and currently owns 867 units in New Brunswick and Ontario.
Northpoint's key assets are two newly built multi-family buildings, comprising 75 units each in New Brunswick.
The deal is expected to close by the end of the first fiscal quarter of 2023.