Oddo BHF confirms its neutral rating on Maurel & Prom (M&P) shares, with an unchanged target price of 3.5 euros.

Last night, M&P announced that it had signed a share purchase agreement for the acquisition of Assala from Carlyle International Energy Partners.

Assala's assets are located in Gabon, an area that M&P knows very well, and this combination should enable significant operational and financial optimizations", estimates Oddo BHF.

The transaction is expected to close between the fourth quarter of 2023 and the first quarter of 2024.

The Transaction consideration paid to the seller by M&P at closing amounts to $730 million, subject to customary closing adjustments.

Oddo BHF states that this transaction involves "little risk from an operational point of view", as M&P knows the area very well.

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