Andalas Energy and Power has acquired an additional interest in Eagle Gas to increase its stake to 25%.
The purchase consideration comprises £130,000 ($170,000) in cash and 147 million shares planned to be issued at mid-market price. In addition, the company has agreed to pay £100,000 ($130,000) of fully paid shares, payable on extension of the licence beyond 31 December and acquisition of additional assets.
The acquisition will enable Andalas to expand its business operations. The company will gain exposure to the Southern North Sea licence P2112, which Eagle Gas holds a 66.67% interest through its wholly owned subsidiary.
Andalas is an upstream oil and gas, and energy company, while the target company is engaged in oil and gas development. Both companies are based in the UK.
Vector Cuatro has reached an agreement to acquire Windfor for a purchase consideration of €625,000 ($730,000).
The acquisition is expected to enable Vector Cuatro to expand its offerings in technical advisory services for onshore windfarms.
Based in Spain, Vector is a subsidiary of Falck Renewables, while Windfor is an Italy-based company engaged in providing technical advisory services for wind energy.
SunSource Holdings has entered a definitive agreement to acquire United Distribution Group.
Barclays, Credit Suisse, and Deutsche Bank have agreed to provide financing for the transaction.
SunSource has engaged Barclays as financial adviser and Debevoise & Plimpton as legal adviser for the transaction, while UDG has engaged Baird as financial adviser and Akin Gump Strauss Hauer & Field as legal adviser.
SunSource Holdings is engaged in the distribution of fluid power and fluid process components and systems in the US and Canada. While United Distribution Group is a distributor of fluid conveyance and related products and services.