Notable Mergers and Acquisitions of the Day 06/25: (SSN) (AEGN)
* Samson Oil & Gas Limited (NYSE: SSN) advises that it has entered into an agreement to sell its interests in the Roosevelt Project in Montana for $13.533 million in cash, subject only to the completion of specified due diligence by the buyer.
The agreement calls for the sale of Samsonâs interest in approximately 30,000 net acres, its interest in wells Australia II, Gretel II and Abercombie and the leases comprising the drill spacing units for these wells. The transaction is due to close on or before July 31st.
Samson plans to deploy the cash raised by this transaction into the development of Samsonâs North Dakotan, Bakken North Stockyard project.
* Aegion Corporation (Nasdaq: AEGN) announced a definitive agreement to acquire the equity shares of Brinderson, L.P. and related entities for a purchase price of $150 million. The Company expects to close the acquisition on or around July 1, 2013.
Brinderson is a leading integrated service provider of maintenance, construction, engineering and turnaround activities for the upstream and downstream oil and gas markets. Primarily focused on serving large oil and gas customers in California, Brindersonâs competitive advantages include its industry-leading safety record, a strong reputation for reliability and quality and comprehensive solutions needed for major refinery maintenance, repairs and retrofits. These core competencies position Brinderson to meet the growing demand for non-discretionary operating and maintenance expenditures. Through long-term contracts and nearly 40 master service agreements, Brinderson derives approximately 75 percent of its revenues from recurring activities. For the twelve months ended March 31, 2013, Brindersonâs revenues totaled approximately $231 million and adjusted EBITDA was $23.8 million.
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