Kohlberg Kravis Roberts (KKR)-Led Group to Acquire Samson Investment in $7.2B Deal
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An investor group consisting of Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR), Natural Gas Partners, Crestview Partners and Itochu Corporation, together comprising “the Investor Group,” today announced the signing of a definitive agreement to acquire Samson Investment Company, for $7.2 billion.
Under the terms of the agreement, the Investor Group will acquire all of Samson’s assets with the exception of its onshore Gulf Coast and offshore deep water Gulf of Mexico assets, which will continue to be owned by the Schusterman family.
Upon completing the sale, David Adams will be named CEO of Samson and the company will be renamed Samson Resources.
The agreement is subject to regulatory approval and customary closing conditions and is expected to be completed by the end of Q411.
Bank of America Merrill Lynch; Barclays Capital, Inc; BMO Capital Markets; Citigroup Global Capital Markets, Inc; Credit Suisse; RBC Capital Markets; Tudor, Pickering, Holt & Co. LLC; and Wells Fargo Securities, LLC acted as financial advisors to KKR, NGP and Crestview.
Mizuho and Evercore Partners acted as financial advisor to Itochu Corporation.
Jefferies & Company, Inc. acted as financial advisor to Samson in connection with the sale of Samson.
Simpson Thacher & Bartlett LLP served as legal counsel to the Investor Group and the Dallas office of Jones Day served as legal counsel to Samson.
Under the terms of the agreement, the Investor Group will acquire all of Samson’s assets with the exception of its onshore Gulf Coast and offshore deep water Gulf of Mexico assets, which will continue to be owned by the Schusterman family.
Upon completing the sale, David Adams will be named CEO of Samson and the company will be renamed Samson Resources.
The agreement is subject to regulatory approval and customary closing conditions and is expected to be completed by the end of Q411.
Bank of America Merrill Lynch; Barclays Capital, Inc; BMO Capital Markets; Citigroup Global Capital Markets, Inc; Credit Suisse; RBC Capital Markets; Tudor, Pickering, Holt & Co. LLC; and Wells Fargo Securities, LLC acted as financial advisors to KKR, NGP and Crestview.
Mizuho and Evercore Partners acted as financial advisor to Itochu Corporation.
Jefferies & Company, Inc. acted as financial advisor to Samson in connection with the sale of Samson.
Simpson Thacher & Bartlett LLP served as legal counsel to the Investor Group and the Dallas office of Jones Day served as legal counsel to Samson.
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